Morgan Stanley cuts projection for Indonesia’s economic growth
Morgan Stanley has cut its projection for Indonesia’s economic growth to 4.5 percent year-on-year from 6.3 percent in 2021, and to 5.4 percent from 5.5 percent in 2022.
Morgan Stanley cuts projection for Indonesia’s economic growth. - Illustrative image (Source: )
Jakarta (VNA) - MorganStanley has cut its projection for Indonesia’s economic growth to 4.5 percent year-on-year from 6.3percent in 2021, and to 5.4 percent from 5.5 percent in 2022.
In its report, Morgan Stanley said Indonesia’s economic recovery will be drivenby domestic and foreign demand.
According to Morgan Stanley’s Asia Economist Deyi Tan, Indonesia’s economic growth in 2021 couldnot be separated from the achievement of economic growth per quarter.
In the first quarter of 2021, Indonesia’s economic growth was still recorded atnegative 0.7 percent year-on-year.
Morgan Stanley predicts that economic growth of the Southeast Asian countrycould soar to 6.5 percent year-on-year in the second quarter, but will declineslightly to 6.3 percent, and 6.2 percent in the third and fourth quarter of2021, respectively.
Morgan Stanley also revised its projection foreconomic growth in ASEAN member countries to 5.4 percent from 7.4 percent in2021./.
Indonesia’s economic growth is already on the right track and is headed towards positive growth, according to Deputy Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) for National Entrepreneur Development Arsjad Rasjid.
Indonesian Investment Minister Bahlil Lahadalia has announced a strategy to increase the investment target up to 900 trillion IDR (63.4 billion USD) for 2021 and 5,000 trillion IDR in 2024.
The Indonesian economy is likely to expand by 7 percent in the second quarter of 2021, following an upward trend in the disbursement of foreign direct investment (FDI) and an improved consumer confidence index.
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Morgan Stanley cuts projection for Indonesia’s economic growth. - Illustrative image (Source: ) 
