IMF Revises Down Outlook for RI's Economic Growth

Suci Sedya Utami    •    09 Oktober 2018 16:58 WIB
global economy (en)
IMF Revises Down Outlook for RI's Economic Growth
Illustration (Photo:MI/Sumaryanto)

Jakarta: The International Monetary Fund (IMF) has revised down its forecast of Indonesia's economic growth to 5.1 percent for 2018 and 2019.

"Eventhough we have downgraded a growth forecast for the next couple of years, growth is still expected to be fairly strong," IMF Chief Economist Maurice Obstfeld told reporters on Tuesday.

"This provides an opportuity for the government to bring up the level of what it does to the Indonesian people," the IMF official said during the World Economic Outlook press briefing in Bali.

IMF earlier cut its forecast of global growth to 3.7 percent for this year and the next. It also projected slower trade growths amid trade disputes between the United States and other countries.

"At the time of our last world economic outlook, the world economy's broad-based momentum led us to project a 3.9 percent growth for both this year and next. Considering developments since then, that number now appears over optimistic," Obstfeld said.

"Rather than rising, growth has plateaued at 3.7 percent," he said.

The Annual Meetings will take place in the holiday island of Bali for a week until October 14. The Indonesian government has recorded around 34 thousand registered participants representing various institutions such as governments, international organizations, media and civil society groups.