Morgan Stanley Lowers Indonesia 2021 Growth Forecast to 4.5%
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18 May 2021 23:16 WIB
TEMPO.CO, Jakarta - Morgan Stanley corrected its prediction for Indonesia's 2021 economic growth to 4.5 percent. It had previously made a forecast of 6.2 percent growth for this year.
"The average consensus by economics is 4.4 percent, year on year (yoy)," Morgan Stanley's Asia economist Deyi Tan said on Tuesday, May 18, 2021.
Tan said that in the first quarter of 2021, Indonesia's economic growth was still recorded at negative 0.7 percent. Then in the second quarter it was raised to 6.5 percent.
Meanwhile, in the third quarter, the global investment bank firm predicts that economic growth will slightly decline to 6.3 percent and further down to 6.2 percent fourth quarter.
For 2022, Morgan Stanley predicts Indonesia's economic growth rate at 5.4 percent. This figure is lower than the previous estimate of 5.5 percent.
Read: Indonesia's Economic Growth Rate Believed to Reach 7%, Says Minister
Muhammad Hendartyo
