IMF downgrades Indonesia’s 2021 GDP growth prospects​​​

The International Monetary Fund (IMF) lowered its growth forecast for Indonesia. By 2021, due to the setbacks of the country due to its COVID-19 vaccination plan, it is far less optimistic about the economic recovery than the government. In its April outlook, the International Monetary Fund lowered Indonesia’s GDP growth forecast for this year by 0.5 percentage points to 4.3%. This figure is lower than the government’s forecast, which assumes that GDP growth will be between 4.5% and 5.3%. Josua Pardede, an economist at the listed bank Permata, said that compared with other emerging economies such as India and Turkey, the prospect of IMF downgrade is in line with the slow rate of vaccination in the country. According to data from the Ministry of Health, as of last Friday, approximately 9.7 million Indonesians had been stabbed and 4.9 million rupiahs had received full vaccination. But Indonesia is also facing shipping delays and uncertainties for millions of AstraZeneca doses.