The Asian Development Bank (ADB) has projected that the Indonesian economy will return to high growth, last seen in the pre-pandemic era, in 2022, with the economy forecast to expand 5 percent next year.
Indonesian President Joko Widodo plans to boost foreign investment to support the virus-battered economy as the government’s stimulus spending remains slow and household spending weak.
Household spending in Indonesia, which contributes up to 57.4 percent of the country’s gross domestic product (GDP), is expected to slow down this year as more people lose their jobs during the COVID-19 pandemic.
World
