IMF lowers economic growth projection for Indonesia in 2021

The International Monetary Fund (IMF) has downgraded Indonesia’s economic growth projection to 4.3 percent in this year, down 0.5 percentage point compared to its forecast in February.

International Monetary Fund, economic growth projection, forecast, Indonesia, global economy, downgrade, Vietnam news, Vietnam News Agency,  Related stories Indonesia, International Monetary Fund, economic growth projection, forecast, Indonesia, global economy, downgrade, Vietnamplus, Vietnam news, Vietnam News AgencyA corner of Jakarta capital (Photo: AFP)

Jakarta (VNA) - The International Monetary Fund (IMF) has downgraded Indonesia’s economic growth projection to 4.3 percent in this year, down 0.5 percentage point compared to its forecast in February.

The IMF also predicted that the five largest economies in Southeast Asia: Indonesia, Malaysia, the Philippines, Thailand and Vietnam, will collectively grow by 4.9 percent in 2021, down from the previous estimation of 5.2 percent due to the increasing number of COVID-19 infections in the region.

However, the IMF raised its growth forecast for the Asia-Pacific region from 7.3 percent to 7.6 percent in the same year. It also raised its 2021 growth projection for the global economy from 5.5 percent to 6 percent.

The IMF is the only multilateral economic organisation so far to lower its Indonesia’s economic growth outlook for this year.

Previously, the World Bank held its GDP growth projection for Indonesia at 4.4 percent for 2021, while the Organisation for Economic Cooperation and Development (OECD) raised its projection by 0.9 percentage points to 4.9 percent./.


VNA
News Related

OTHER NEWS

EU investors confident in Vietnam’s business climate: Vietnam Briefing

Illustrative photo (Source: VNA) Hanoi (VNA) – The foreign investment consulting firm Dezan Shira & Associates’ Vietnam Briefing website, on May 13, published an analysis on a trend of increasing EU investment in Vietnam… Read more »

World News in Brief: May 14

  People visit the Natural History Museum in Vienna, capital of Austria, May 12, 2021. Museums in Vienna have reopened after Austria eased its restrict measures. (Photo: Xinhua)    An earthquake of magnitude 6.6… Read more »

Singapore tightens COVID-19 preventive measures

People wears face masks at Changi Airport’s Terminal 3. (Source: channelnewsasia.com) Singapore (VNA) – Singapore will further tighten its COVID-19 measures from May 16 to June 13 as it sought to control an… Read more »

Top scientists uncertain about the need for Covid-19 booster shots

In interviews with Reuters, more than a dozen influential infectious disease and vaccine development experts said there is growing evidence that a first round of global vaccinations may offer enduring protection against the… Read more »

Indonesia reveals strategy to achieve 63-bln-USD investment goal

Jakarta (VNA) – Indonesian Investment Minister Bahlil Lahadalia has announced a strategy to increase the investment target up to 900 trillion IDR (63.4 billion USD) for 2021 and 5,000 trillion IDR in 2024.… Read more »

New coronavirus variants in Cuba linked to severe cases, deaths

  People wearing face masks walk on a street in Havana, Cuba, May 13, 2021. (Photo: Xinhua)    New variants of the coronavirus believed to have entered Cuba in recent months have been linked… Read more »

World breaking news today (May 14): Prince Harry appears to criticise way he was raised by his father

(Photo: News Week) Prince Harry appears to criticise way he was raised by his father The Duke of Sussex has appeared to criticise the way he was raised by Prince Charles, discussing the… Read more »

Nepalese media praises Vietnam’s steps to limit COVID-19 impacts

Collecting samples for COVID-19 testing in Bac Giang province (Photo: VNA) Hanoi (VNA) – Nepalese newswire peoplesreview.com.np on May 12 ran an article praising Vietnam’s decisive steps to minimise both health and economic… Read more »

World News in Brief: May 13

  A man wearing a mask walks near the Arc de Triomphe in Paris, France, May 12, 2021. France is on its way to coming out of the health crisis as COVID-19 indicators… Read more »

US, RoK discuss promoting ties with ASEAN

Illustrative image (Photo: AFP/VNA) Hanoi (VNA) – The Republic of Korea (RoK) and the US held virtual talks on May 13 to discuss ways to strengthen cooperation with Southeast Asian countries based on… Read more »

Malaysia’s Islamic banking institutions support COVID-19-hit customers

AIBIM  supports customers who are affected by the COVID-19 pandemic. (Photo: Bernama) Kuala Lumpur (VNA) – Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) has pledged support for customers who are affected… Read more »

Indonesia reveals strategy to achieve 63-mln-USD investment goal

Jakarta (VNA) – Indonesian Investment Minister Bahlil Lahadalia has announced a strategy to increase the investment target up to 900 trillion IDR (63.4 billion USD) for 2021 and 5,000 trillion IDR in 2024.… Read more »

Life in a “Covid free” idyllic Italian island

And in Italy — where tourism represents about 13% of the GDP, according to government figures — one island has stolen a march on its rivals, by going “Covid-free.” Capri, in the Gulf… Read more »

New COVID-19 developments in several Southeast Asian nations

Taking samples for COVID-19 testing (Photo: AFP/VNA) Hanoi (VNA) – Thailand announced 4,887 new COVID-19 cases on May 13– the highest-ever number recorded in a single day in the Southeast Asian country. Among… Read more »

Vietnam supports inspections, accountability of IS’s crimes

At the UNSC rria-Formula Meeting on harnessing technology to deliver justice for war crimes, crimes against humanity and genocide (Photo: VNA) New York (VNA) – Since terrorism poses serious threat to international peace and… Read more »

Lavrov, Blinken discuss upcoming Russia-US summit over phone

  US Secretary of State Blinken and Russian Foreign Minister Lavrov to meet on the sidelines of the Arctic Council meeting in Reykjavik, Iceland, on May 20. (Photo: Twitter/@TRTWorldNow)    Russian Foreign Minister Sergei… Read more »

Indonesia’s economic growth headed towards positive growth

Thousands of vehicles drive between multi-storey buildings in the Pancoran area, Jakarta on March 20, 2021 (Photo: ANTARA) Hanoi (VNA) – Indonesia’s economic growth is already on the right track and is headed… Read more »

WHO Seychelles Covid 19 data reviewed after fully vaccinated people test positive

On Tuesday, World Health Organization (WHO) said it was reviewing COVID-19 data from Seychelles, the world’s most vaccinated country, after a third of people who tested positive for COVID-19 in the last week… Read more »

Singapore: Changi Airport’s terminal buildings, Jewel closed due to COVID-19

Singapore (VNA) – All Changi Airport passenger terminal buildings and Jewel Changi in Singapore will be closed for two weeks to all members of the public from May 13, amid a rise in… Read more »

World breaking news today May 13 US halts consular services in Russia after diplomatic row

World breaking news today (May 13): US halts consular services in Russia after diplomatic row. Meanwhile, Liz Cheney loses House Republican leadership post, Hong Kong legislators pass ‘patriotic’ oath law and gold price… Read more »

Vietnam condemns violence in escalating Israel - Palestine conflict

Smoke rises after a series of Israeli air strikes on the Gaza Strip. (Photo: AFP/VNA) New York (VNA) – The UN Security Council (UNSC) held the second emergency meeting this week on May… Read more »

Vietnam calls for cooperation to end Yemen conflict

Conflicts have maintained in Marib, Yemen (Photo: AFP/VNA) New York (VNA) – Ambassador Dang Dinh Quy, Permanent Representative of Vietnam to the United Nations (UN), called on all parties to strengthen cooperation to… Read more »

Southeast Asian nations continue seeing high numbers of COVID-19 infections

Empty street in Luang Prabang, Laos (Photo: xinhua/VNA) Hanoi (VNA) – The Health Ministry of Cambodia on May 12 announced 472 new COVID-19 cases – the highest-ever number recorded in a single day… Read more »

US returns over 460 million USD retrieved from 1MDB funds to Malaysia

Malaysian and US investigators say at least 6 billion was stolen from sovereign fund 1MDB between 2009 and 2014 (Photo: Reuters) Hanoi (VNA) – Malaysia on May 12 said the US Department of… Read more »

Thailand approves 192-mln-USD subsidy to reduce burning of sugarcane fields

A sugarcane farmer works on a burnt field, a practice that authorities have been attempting to ban in order to reduce pollution, in Suphan Buri. (Photo: Reuters/VNA) Bangkok (VNA) – Thailand’s Cabinet on… Read more »

Suspected Covid victims bodies found on India’s Ganges river

Locals in the northern Indian state of Bihar found dozens of dead bodies on the banks of the river Ganges, the country’s media reported on Monday. A family member watching the cremation of… Read more »

Brazil buys 100 million more doses of Pfizer's COVID-19 vaccine

  Illustrative Image    Brazil’s Health Ministry on Tuesday announced it had signed a deal for Pfizer to deliver an additional 100 million doses of its COVID-19 vaccine, doubling the number of shots from… Read more »

"Emergency state" announced in Israeli city amid Arab-Jewish clashes

  A bus hit by a rocket from the Gaza strip is seen in central Israeli city of Holon, on May 11, 2021. (Photo: JINI via Xinhua)    A state of emergency was announced… Read more »

World News Today (May 12): Moscow says Putin and Biden should talk arms control at possible summit

Russian Foreign Minister Sergei Lavrov speaks during a news conference in Moscow, Russia May 5, 2021. (Photo: Reuters) Moscow says Putin and Biden should talk arms control at possible summit Russia has proposed… Read more »

Vietnam calls for support to Lebanon at UNSC meeting

Children in Bab al-Tabbaneh area of Tripoli city, Liban (Photo: AFP/VNA) Hanoi (VNA) – The United Nations Security Council (UNSC) discussed the implementation of Resolution 1559 related to the situation in Lebanon at… Read more »

Violence escalated between Palestine and Israel

The Israeli military has conducted air strikes in the Gaza Strip. Photo: Mahmud Hams/Getty Images Tensions between Israel and the Palestinians spiralled in recent days. Israel’s police force said thousands of Palestinians had… Read more »

Vietnam supports free, fair election in Iraq: Ambassador

At the virtual conference on the situation in Iraq and the operation of the UNAMI (Photo: VNA) New York (VNA) – Vietnam supports a free and fair election in Iraq, with the participation of… Read more »

German media: plaintiffs and supporters of Tran To Nga’s lawsuit not deterred

A story about Tran To Nga’s lawsuit in the Frankfurter Rundschau (FR) newspaper (Photo: VNA) Berlin (VNA) – Many newspapers of German have run stories highlighting the lawsuit lodged by Vietnamese French Tran… Read more »

Covid 19 in India and the world latest news India reports its highest daily death toll 4 187 people

On Saturday, India reported the highest record of daily Covid-19 cases, 4,187 people, as the deathly new waves sweep through the country, and the hospitals run out of drugs and oxygen. India Sees… Read more »

EU doesn t renew order for AstraZeneca s COVID vaccine

The EU Commission did not renew its order for AstraZeneca’s Covid-19 vaccine, the European Union’s Internal Market Commissioner said on Sunday. EU to guard against economic competition from China, EU-China investment put on… Read more »

Russia holds military parade to mark V-Day

  Servicemen march during the military parade marking the 76th anniversary of the Soviet victory in the Great Patriotic War, Russia’s term for World War II, on Red Square in Moscow, Russia, May… Read more »

ROK president says to find way for restored inter-Korean, DPRK-US talks

  Republic of Korea President Moon Jae-in.     The Republic of Korea (ROK) President Moon Jae-in said on Monday that his government will seek to find a way during the remainder of his… Read more »

Norway should exclude J J and AstraZeneca Covid 19 vaccines over potential side effects

According to a government-appointed commission on Monday, Norway should consider excluding Covid-19 vaccine made by AstraZeneca and Johnson&Johnson from inoculation programme due to its potential and halmful health side-effects, even though they were… Read more »

Philippine economy declines further than projected in Q1

A policeman (right) monitors people at the entrance to a neighbourhood under strict quarantine measures in Pasay City, suburban Manila (Photo: AFP)   Hanoi (VNA) – The Philippine economy shrank by more than… Read more »

Russia- the West tension soars, Putin vows to defend Russian interests

“We will firmly defend our national interests,” Vladimir Putin vowed.SPUTNIK/AFP via Getty Images Putin’s speech on Sunday came at the start of an annual parade that sees military hardware roll through the streets… Read more »

Landslide leaves seven dead, one missing in Indonesia

The landslide scene (Source: see.news) Jakarta (VNA) – At least seven people were killed and one went missing after a landslide at a West Sumatra gold mine, Indonesia’s authorities said on May 11.… Read more »

Malaysian central bank keeps growth forecast at 6 - 7.5 percent for 2021

A bird’s-eye view of Kuala Lumpur July 8, 2020. (Photo: malaymail.com) Kuala Lumpur (VNA) – Despite the recent re-imposition of nationwide pandemic containment measures by the federal government, the central bank of Malaysia… Read more »

COVID-19: Thailand tightens border control, Cambodia locks down one border area

People wait to have samples taken for COVID-19 testing in Bangkok, Thailand (Photo: AFP/VNA) Bangkok (VNA) – While Thai authorities have increased checkpoints and patrol along borders to prevent illegal entries to combat… Read more »

South Korean president calls for action on North Korea

Photo: The Japan Times South Korean President Moon Jae-in said on Monday that his government will seek to find a way during the remainder of his presidency for restored talks between South Korea… Read more »

Vietnam backs UN’s investigation into IS crimes in Iraq

Afghan security forces escort suspected IS and Taliban fighters in Jalalabad province on October 1, 2019. (Photo: AFP / VNA) Hanoi (VNA) – The UN Security Council (UNSC) on May 10 convened a… Read more »

Norway should exclude J&J and AstraZeneca Covid-19 vaccines over potential side effects

However, those who volunteer to take either vaccine should be allowed to do so, it said, stressing the importance of dispelling any vaccine hesitancy, according to Reuters. Norway suspended the AstraZeneca vaccine rollout… Read more »

German Communist Party backs Vietnamese AO victims

Caring for children infected with AO/dioxin (Photo: VNA) Berlin (VNA) – The German Communist Party (DKP) on May 10 issued a statement expressing its support for the lawsuit lodged by Vietnamese French Tran… Read more »

French law firm affirms support for Vietnamese AO victim's lawsuit

Stern newspaper runs article on Tran To Nga‘s historic lawsuit (Photo: VNA) Paris (VNA) – The France-based Bourdon & Associates law firm affirmed its support for Vietnamese-French Tran To Nga in her lawsuit… Read more »

Cambodia to exit from Least Developed Countries status

In Cambodia (Photo: Phnom Penh Post) Hanoi (VNA) – Phnom Penh Post on May 10 quoted a senior official from the Cambodian Ministry of Commerce as saying that Cambodia is well-prepared to minimise… Read more »

Indonesia arrests Papuan independence leader

Papuan independence leader Victor Yeimo. (Photo: thestar.com.my) Jakarta (VNA) – Indonesian authorities have arrested Papuan independence leader Victor Yeimo over accusations that he orchestrated serious civil unrest in 2019. Tension has reignited in… Read more »