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By APD writer Maverick
JAKARTA, April 12 (APD) — Continuing positive growth it gained last year, Indonesia was estimated to reach higher level of growth up to 5.3 percent this year on the back of increasing investments and household consumptions.
The estimation was delivered by the Asian Development Bank (ADB) in its annual flagship outlook publication, Asian Development Outlook (ADO), published here on Wednesday.
“Indonesia’s strong macroeconomic management and structural reforms have boosted the investment momentum. With continued reform efforts, the country can reach a higher and more inclusive growth,” ADB Country Director for Indonesia Winfried Wicklein said in his remarks to launch the 2018 ADO in his office here.
The ADB’s economic growth estimation for Indonesia was lower than the target initially set by government in state budget at 5.4 percent.
The estimated growth figure for Indonesia conveyed by the development financier for Asian countries was in line with the ones issued by international financiers, the World Bank (WB) and International Monetary Fund (IMF), at the same level of 5.3 percent this year.
In the 2018 ADO document, the ADB also estimated that the growth would continue at the same level in 2019 as the nation would take benefits from positive trends in international trade and international commodity price pickup.
Wicklein forecasted that investments in Indonesia would continue to enhance further due to positive business sentiment from structural reforms, coupled by the fast-tracking of several national strategic projects.
Estimating other aspects, Wicklein said that Indonesian inflation would remain controllable this year after recorded a 3.8 percent last year, projected to reach around 4.0 percent next year.
Growth in export would be moderate with a bit strong imports due to increasing demands on capital goods this year, he said.
Indonesia, the Southeast East Asia’s largest economy recorded four-year high growth at 5.1 percent last year.
The current government’s massive economy reform policies that highly facilitating foreign investors coupled with sound economic parameters were rewarded with Investment Grade status by international rating agencies, giving the nation more chances to pursue higher growth in the future.
(ASIA PACIFIC DAILY)
