ADB Cuts Indonesia's Economic Projection, Again. Here’s Why

By Editorial Team 23/09/2021
economic downturn
Summary

The Asian Development Bank (ADB) has cut Indonesia's economic growth projection from 4.5 percent to 3.5 percent this year. ADB Senior Country Economist Henry Ma explained that the decline could not be separated from the second wave of the COVID-19 pandemic, restricting people's mobility in the country and hampering economic recovery.

ADB elaborated in a press release on Wednesday (9/22) that Indonesia's gross domestic product (GDP) "expanded by 3.1 percent in the first half of 2020," but "indicators of economic activity slowed in July 2021 and August 2021."

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