Chairman of Indonesia's BPS Margo Yuwono (Photo: BPS) Jakarta (VNA) – Indonesia’s economy has rebounded from the recession as consumers andbusinesses resumed activities and a global economic recovery boosted exports, according to insiders.
The country's GDProse 3.69 percent in 2021 from the previous year, driven largely by a reboundin investment, compared to a 2.07 percent contraction the year before, StatisticsIndonesia (BPS) reported on February 7.
Thecountry's economy grew by 5.02 percent in the fourth quarter of 2021.
That wasroughly in line with the Indonesian government’s prediction and a touch fasterthan the 4.9 percent expected in a Reuters poll.
Indonesia’sGDP is forecast to rise in 2022, however, the outlook for this year is clouded dueto the Omicron variant of the coronavirus and rising COVID-19 cases.
“Indonesia’seconomy rebounded strongly in the final quarter of last year, but the recoveryis now entering a more difficult phase,” analyst GarethLeather of UK-based Capital Economics research consultancy said.
The IMF inJanuary downgraded Indonesia's 2022 economic growth forecast to 5.6 percent in2022, from 5.9 percent in its previous report, and 6 percent in 2023 from 6.4percent./.
