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Jakarta Post

Indonesia's growth lackluster as world economy grows bleaker

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, October 7, 2019   /  01:31 pm
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A worker gestures as a crane lifts lumber for export onto a cargo vessel at a port in Lianyungang, Jiangsu province, China.(Reuters/Stringer)

Indonesia’s economy has seen lower-than-expected growth this year, as trade war-driven global economic concerns have slowly crept into consumer confidence following a string of negative economic projections from much weaker global trade to recession in large economies. Bank Indonesia (BI), the Finance Ministry and economists recently projected that the country’s economic growth would reach 5 to 5.1 percent this year, below the government’s 5.2 percent target and on the lower end of the central bank’s 5 to 5.4 percent growth target range. “We continue to look for [new] sources of growth including [ways to] boost the manufacturing industry, tourism, small and medium enterprises [SMEs], the digital economy and finance,” BI Governor Perry Warjiyo told the press on Friday, expecting 5.1 percent economic growth for the full year 2019. The ministry&r...