Can Indonesia's Economy Grow to 7% in 2021?

By Editorial Team 04/05/2020
Summary

Bank Indonesia (BI) estimated that Indonesia's economic growth would be around 6.6 percent-7.1 percent next year. BI's optimism came from the confidence that the government’s massive fiscal stimuli to mitigate the impact of the Covid-19 pandemic would be sufficient in sustaining economic growth.

BI Governor, Perry Warjiyo, explained that the projected economic growth used the assumption that the budget deficit would only be 3.4 percent of Indonesia’s Gross Domestic Product (GDP). "However, if the fiscal stimulus hits four percent of the GDP, the growth may even reach 7.1 percent," Perry said in a videoconference last weekend.

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