WB predicts Indonesia’s growth at 5.2 percent in 2022

Wednesday, 2022-01-12 22:07:16
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Indonesia is projected to record a growth rate of 5.2 percent this year (Photo: AFP)
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NDO/VNA – The World Bank (WB) forecast Indonesia’s economic growth will rebound to 5.2 percent in 2022.

In the latest Global Economic Prospects report released on January 11, the WB said the expansion of the largest Southeast Asian economy will be supported by stronger domestic demand and elevated commodity prices.

Meanwhile, the growth is predicted to inch down to 5.1 percent in 2023.

The WB estimated Indonesia’s 2021 growth at 3.7 percent, unchanged from the previous forecast issued in December last year.

It also emphasised risks that may undermine economic growth prospects due to the sensitivity to the spread of the new coronavirus variant Omicron though many countries in the region are expected to reach a vaccine coverage rate of 70 percent by mid-2022.