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Jakarta Post

Indonesia sees gloomy outlook on economy as growth falls below 5%

  • Adrian Wail Akhlas and Riska Rahman

    The Jakarta Post

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Jakarta   /   Thu, February 6, 2020   /  08:27 am
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General image of Indonesia economy.(Bloomberg/File)

Indonesia’s economy headed into 2020 with sluggish outlook as household consumption, exports and investment are expected to further weaken due to global economic risks including the coronavirus crisis, economists say. Gross domestic product (GDP) grew 4.97 percent in the fourth quarter of 2019, the weakest level in almost three years, Statistics Indonesia (BPS) announced Wednesday. Throughout 2019, Indonesia’s economy grew 5.02 percent, the weakest year since 2015. Read also: Indonesia’s GDP growth stagnated at 5.02 percent last year, weakest since 2015 Bank Central Asia chief economist David Sumual said that gross domestic product (GDP) could be adversely affected by the impact of a spiraling coronavirus crisis, calling the government’s economic target of 5.3 percent as unrealistic. “Economic growth below 5 percent in 2020 should not be ruled ou...