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Jakarta Post

Employers keep growth expectations low amid global slowdown

  • Eisya A. Eloksari

    The Jakarta Post

Jakarta   /   Thu, December 12, 2019   /  01:47 pm
The Jakarta Post Image
Apindo chairman Hariyadi B. Sukamdani talks to the press at the Apindo headquarters in Jakarta on Tuesday. The association estimates Indonesia’s 2020 GDP growth at between 4.85 and 5.1 percent.(The Jakarta Post/Eisya Eloksari)

The Indonesian Employers Association (Apindo) predicts that the country's economic growth will remain sluggish next year as the global economic slowdown continues to affect domestic business activity. The association expects the country’s economy to grow at a rate of only 4.85 percent to 5.1 percent in 2020, below the government’s target of 5.3 percent. Meanwhile, for this year, the association has lowered its projection to between 4.95 percent and 5.1 percent from its initial forecast of 5.2 percent. The association’s chairman, Hariyadi B. Sukamdani, said uncertainties in the global economy as a result of the escalating trade war between the United States and China would continue to hamper Indonesia’s exports, one of the major drivers of the country’s economic growth. “Although, if the omnibus law can be implemented and [provide lots...