Domestic consumption helps Indonesia’s economy maintain growth: ADB

27, Sep. 2019

JAKARTA,VNA - Indonesia’s economy is expected to maintain a healthy growth rate in 2019 and 2020 on the back of continued strong domestic consumption, according to the Asian Development Bank (ADB).

The bank forecast Indonesia’s economic growth would reach 5.1 percent this year, lower than the expansion of the previous year (5.2 percent).

However, the country’s economy is projected to expand by 5.2 percent in 2020 thanks to strong domestic consumption, the bank said.

According to ADB Country Director for Indonesia Winfried Wicklein, the country’s inflation is likely to remain stable at 3.2 percent this year and 3.3 percent in 2020.

Core inflation is expected to remain anchored and food prices unchanged, he added. - VNA