TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

IMF joins bandwagon, cuts Indonesia's GDP outlook as trade data weighs on economy

The IMF has drastically cut the world trade volume growth projection to 1.1 percent this year from 3.4 percent forecast in April.

Marchio Irfan Gorbiano and Adrian Wail Akhlas (The Jakarta Post)
Premium
Jakarta
Wed, October 16, 2019

Share This Article

Change Size

IMF joins bandwagon, cuts Indonesia's GDP outlook as trade data weighs on economy Ready for shipment: An employee watches over cranes as he talks on his interphone at a port in Qingdao in east China’s Shandong province on Thursday. (Agence France-Presse/-)

T

he International Monetary Fund has become the latest global institution to slash Indonesia’s economic growth projection amid thickening gloom surrounding world trade that is expected to spill over into the domestic economy.

In its October 2019 World Economic Outlook published on Tuesday, the Washington, DC-based institution expects the country’s gross domestic product (GDP) to expand just 5 percent this year – down 0.2 percentage points from its April projection – and 5.1 percent in 2020, down 0.1 percentage points from the earlier forecast.

Global growth in 2019 is seen at 3 percent, the lowest level since 2009 and down 0.3 percentage points from the April 2019 World Economic Outlook. While global growth is projected to pick up to 3.4 percent in 2020, that would still be 0.2 percentage points less than predicted in the April assessment.

“The momentum in manufacturing activity, in particular, has weakened substantially, to levels not seen since the global financial crisis,” the IMF report says.

“Rising trade and geopolitical tensions have increased uncertainty about the future of the global trading system and international cooperation more generally, taking a toll on business confidence, investment decisions, and global trade.”

Read also: Govt needs to ‘roll out the carpet’ to lure more investors: ADB

The IMF has drastically cut the world trade volume growth projection to 1.1 percent this year from 3.4 percent forecast in April.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters
or

Purchase access to this article for

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay

Redirecting you to payment page

Pay per article

IMF joins bandwagon, cuts Indonesia's GDP outlook as trade data weighs on economy

Rp 29,000 / article

1
Create your free account
By proceeding, you consent to the revised Terms of Use, and Privacy Policy.
Already have an account?

2
  • Palmerat Barat No. 142-143
  • Central Jakarta
  • DKI Jakarta
  • Indonesia
  • 10270
  • +6283816779933
2
Total Rp 29,000
{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.