COVID-19: Government of Indonesia Expects GDP to Grow Between 4.5% and 5.5% in 2021

May 13, 2020

The Government of Indonesia predicts that the economy of the country will expand between 4.5% and 5.5% in 2021, as it believes that the COVID-19 outbreak will still cast a threat on business activity, according to the macroeconomic forecast for the state budget plan for 2021. The macroeconomic assumption is proposed to the House as the first step for the drafting and deliberation of the state budget.

Indonesia’s Minister of Finance, Sri Mulyani Indrawati, stated that the 2021 state budget will focus primarily on supporting economic recovery, including a rebound in the manufacturing industry, tourism and investment, as well as improvements to the national healthcare system and social safety net.