WB: Indonesia's growth to stay moderate around 5 pct until 2021

Hanoi (VNA) - Indonesia's economic growth was estimated to remain at a moderate level around 5 percent until 2021, mainly backed by consumption, a World Bank (WB) senior economist has said.

Speaking at a teleconference to publish the WB's latest report entitled "Weathering Global Risk" in Jakarta on October 10, WB Senior Economist for East Asia and the Pacific region Andrew Mason estimated that Indonesia would see a 5.2 percent growth in 2019, followed by 5.1 percent in 2020 and bouncing back to 5.2 percent in 2021.

Indonesia's investments were estimated to grow 5 percent in 2019, before expanding to 5.5 percent and 6 percent in 2020 and 2021 respectively, thanks to the improved fiscal and the progressing of massive infrastructure projects across the nation, he added.

However, those estimated investment growth figures were lower than 6.7 percent recorded last year by the WB.

Regarding exports, Mason estimated that Indonesia may see weakening exports that grow minus 1 percent this year. But he said that recovery in exports growth could be seen in next year by 1.5 percent, growing further by 2.8 percent in 2021.

On imports, the economist estimated that Indonesia’s imports would also be weaken this year and to expand in the following years by 2 percent and 3.7 percent in 2020 and 2021 respectively.

According to the economist, Indonesia would see decreasing current account deficit (CAD) to 2.8 percent from the country’s Gross Domestic Products (GDP) this year./.