S&P raises Indonesia’s growth forecast this year
Standard and Poor’s (S&P) senior director and lead analyst for corporate ratings in Indonesia and Malaysia, Xavier Jean, has noted that his firm’s corporate clients are a lot more optimistic recently.
At a shopping mall in Indonesia (Source: Reuters)Jean attributed the change in his clients’ behavior to Indonesia’s economy, which started to pick up in the second half of last year.
According to the latest study by S&P, Indonesia’s gross domestic product (GDP) will expand by 4.9 percent this year, which is lower than the government’s target of 5.3 percent, but still higher than last year’s 4.76 percent. GDP growth for next year is forecast at 5.1 percent. The inflation rate is expected to remain steady at about 5 percent, signalling greater purchasing power in the foreseeable future.
Earlier, the International Monetary Fund estimated Indonesian growth at 4.9 percent, inflation at 4.5 percent and the budget deficit at 2.5 percent of GDP.
S&P is one of the world’s three largest and most prestigious credit ratings agencies, besides Moody’s and Fitch Ratings.-VNA
You should also see
Vietnamese Deputy PM, Venezuelan President hold talks
Vietnamese Deputy Prime Minister Tran Luu Quang held talks with President of Venezuela Nicolás Maduro Moros in Caracas on April 18, as part of his ongoing official visit to the Latin American country.
See more
World
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
