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View all search resultsThe Finance Minister said structural reform, in part through the Jobs Creation Law, could accelerate Indonesia's economic growth to above 6 percent by 2023 without putting additional pressure on the state budget.
The expansion would be the largest in four decades of publicly available data from the IMF, marking a sharp turnaround from a 3.3 percent contraction last year -- the worst peacetime decline since the Great Depression -- due to the coronavirus pandemic.
Singapore's downgrade adds to concerns globally about the effect of increasing protectionism on exports and production. The deterioration in the global outlook has pushed central banks to cut interest rates and consider unconventional stimulus to shield their economies.
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