ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

Indonesia's central bank slashes growth forecast on outbreak

Bank Indonesia sees a 2.3% expansion in 2020 as it holds its key rate

JAKARTA -- Indonesia's central bank slashed its growth forecast for 2020 but kept its key interest rate on hold, as concerns continue to mount over the impact of the coronavirus outbreak on the country's economy.

Bank Indonesia said Tuesday it now expects the growth rate to come in at 2.3%, significantly lower than the 4.2%-4.6% it projected in its March meeting, and more in line with the forecasts of international institutions. The Asian Development Bank sees growth slowing to 2.5%, while the World Bank projects a fall to 2.1% in its baseline scenario.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more