Indonesia projected to grow 4.7-5.5 percent in 2022
Bank Indonesia (BI) said it expects Indonesia’s gross domestic product (GDP) to increase by between 4.7 and 5.5 percent in 2022, higher than the previous forecast of 3,2-4 percent.
A Bank Indonesia logo is displayed on a gate in Jakarta (Photo: AFP)
Jakarta (VNA) – Bank Indonesia (BI) said itexpects Indonesia’s gross domestic product (GDP) to increase by between 4.7 and5.5 percent in 2022, higher than the previous forecast of 3,2-4 percent.
The bank forecast the economy will recover from the COVID-19pandemic next year, supported by a rebound in both domestic demand and globaleconomic activity.
As quoted by The Jakarta Post, BI Governor Perry Warjiyosaid in his annual speech that “Strong policy synergy and economic performancein 2021 will be our capital to further rebound and be optimistic about a bettereconomic recovery for Indonesia in 2022.”
He said the national vaccination campaign againstCOVID-19, the reopening of the economy, and stimulus measures have played a keyrole in accelerating the country's recovery.
According to Our World in Data (OWID), as of November 22,the number of Indonesians who had received at least one dose of the vaccinereached 48.88 percent, while the number of fully vaccinated people accountedfor nearly one third of the population.
Perry believed that Indonesia's exports would continue togrow strongly in 2022, supporting the national economic recovery. Consumerspending and investment were also forecast to recover, helping to boost demand./.
Indonesia's central bank has slashed its forecast for 2021 economic growth to 3.8 percent from a previous forecast of 4.6 percent, based on early assessments of the impact of recent social restrictions.
Bank Indonesia (BI) has cut its 2021 economic growth forecast range for the Southeast Asian country to between 3.5-4.3 percent from 4.1-5.1 percent previously.
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A Bank Indonesia logo is displayed on a gate in Jakarta (Photo: AFP) 
