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Jakarta Post

Indonesia’s economy at risk as global recession looms: World Bank

  • Marchio Irfan Gorbiano and Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, September 9, 2019   /  08:45 am
The Jakarta Post Image
President Joko “Jokowi” Widodo delivers his speech at the IMF-World Bank Annual Meeting in Nusa Dua, Bali, on Oct. 12.(Antara/Puspa Perwitasari)

Indonesia’s economy, which has been growing steadily at around 5.3 percent per year on average since the start of the millennium, could be dragged down as it faces downside risks associated with the increasingly clouded outlook for the global environment, the World Bank has said. The assessment was one of many points discussed during a closed-door meeting between President Joko “Jokowi” Widodo and World Bank country director for Indonesia and Timor-Leste Rodrigo A. Chaves, among other officials, at Merdeka Palace last week. According to the World Bank’s meeting material, a copy of which was obtained by The Jakarta Post, Indonesia’s gross domestic product (GDP) growth could slow to 4.9 percent next year and slide further to 4.6 percent in 2022 amid intensifying risks such as the escalating trade war between the United States and China. “Growth ...