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World Bank: Indonesia's economic growth in 2019 will only reach 5%

12 December 2019 08:47

JAKARTA. The World Bank estimates that Indonesia's economic growth will only reach 5% this year, lower than the growth in 2018 that reached 5.17%.

"This year, we estimate there will be economic growth of 5%. A bit slower than the previous year's (growth of 5.2%)," said Lead Economist World Bank Indonesia, Frederico Gil Sander, at Energy Building on Wednesday (11/12).

Frederico explained that this year was indeed a hard year for the Indonesian economy. Global economic turmoil has weakened investment growth due to a significant decline in commodity prices and political uncertainty.

Sri Mulyani, who was present at the World Bank public information event, also gave a response. In her speech, she stressed that uncertain conditions slowed down Indonesia's economy. 

For 2020, the World Bank estimates that Indonesia's economy will improve slightly with a projected growth of 5.1%, due to lower trade war tension and political uncertainty. (AM/AR)

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