Will Indonesia's economy grow in 2021?

JAKARTA, INDONESIA (22 September 2021) — Indonesia’s economy is expected to grow by 3.5% in 2021 and by 4.8% in 2022 amid the coronavirus (COVID-19) pandemic, according to a report released today by the Asian Development Bank (ADB).

What happened to Indonesia's economy in 2012?

In 2012, Indonesia was the second fastest-growing G-20 economy, behind China, and the annual growth rate fluctuated around 5% in the following years. Indonesia faced a recession in 2020 when the economic growth collapsed to −2.07% due to the COVID-19 pandemic, its worst economic performance since the 1997 crisis.

What is Indonesia's economic plan?

Indonesia’s economic planning follows a 20-year development plan, spanning from 2005 to 2025. It is segmented into 5-year medium-term development plans called the RPJMN ( Rencana Pembangunan Jangka Menengah Nasional ), each with different development priorities. The current medium-term development plan is the last phase of the 20-year plan.

What will Indonesia's current account deficit look like in 2021?

As growth rises next year, inflation will edge up close to its prepandemic rate of 3.0%, within Bank Indonesia’s target of 2%–4%. The current account deficit is projected to be about 0.5% of GDP in 2021 and 0.9% in 2022.