Indonesian Finance Minister Sri Mulyani Indrawati has projected that the country’s economy will grow 4.5 percent to 5.2 percent in the first quarter of 2022 amid uncertainty about the global economy due to the conflict in Ukraine.
Jakarta (VNA) – Indonesian FinanceMinister Sri Mulyani Indrawati has projected that the country’s economywill grow 4.5 percent to 5.2 percent in the first quarter of 2022 amiduncertainty about the global economy due to the conflict in Ukraine.
The minister said at a press conference on April 13 that thegrowth is attributable to positive economic indicators such as consumer’sconfidence index, retail revenues, motor vehicles sales and cement andelectricity consumption.
She believed that the Indonesian economy would growwithin a range of 4.8–5.5 percent throughout 2022.
According to the minister, many internationalinstitutions, including the Organisation for Economic Cooperation andDevelopment (OECD), World Bank, and International Monetary Fund (IMF), areexpected to revise their global economic outlook downward this month.
She noted that the OECD had revised its global economic growth forecast for2022 downward to 3.5 percent from 4.5 percent earlier.
Meanwhile, the World Bank had also lowered its economicgrowth forecast for East Asia and the Pacific this year to 4.0–5.0 percent from5.4 percent.
She added that the World Bank hasprojected that the Indonesian economy will grow 5.1 percent this year./.
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