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Apindo expects 4-5% economic growth in 2022
The Indonesian Employer Association (Apindo) expects the country’s economic growth to pick up to between 4 and 5 percent in 2022, while inflation remains lower than 3 percent.
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The chairman of Indonesia’s Hotel and Restaurant Association (PHRI), Hariyadi B. Sukamdani, talks to the press on the impact of the coronavirus epidemic on tourism in Jakarta on March 12, 2020. (JP/Riza Roidila Mufti)
T
he Indonesian Employers Association (Apindo) is expecting the country’s economic growth to pick up in 2022 on the back of policy reforms, government support and vaccination campaigns.
Apindo chairman Hariyadi Sukamdani said Thursday that the association expected gross domestic product (GDP) to grow by between 4 and 5 percent next year. This outlook hinged not only on pandemic containment but also on government support that may need to vary from one sector to another.
“The projection range is based on, first, the economic recovery that has improved gradually and quite consistently in 2021, partly because of social protection and the national economic recovery program,” he said in a press briefing.
“Second, the vaccination [program] is [going] fairly good, although regions outside Java and Bali are still lagging behind.”
The outlook came following the global emergence of the Omicron variant of COVID-19, which has not resulted in any reported deaths so far but has raised the odds of Indonesia tightening mobility restrictions and raising relief spending.
Read also: Omicron variant casts shadow over Indonesia's economic recovery
The outlook will mark a faster growth than this year, which Apindo estimates at between 3 and 3.75 percent.
