2022 State Budget: Fiscal Policy and Structural Reform
Outlook of Domestic Economy Remains Robust
...domestic economic growth is predicted to rebound in 2021
2021 Economic Outlook
● Bank Indonesia projects economic growth in 2021 at the range 3.2-4.0%, and accelerate to 4.7%-5.5% in 2022.
Bank Indonesia projects Inflation in 2021 and 2022 to remain under control and within the 3.0%±1% target corridor.
• Bank Indonesia projects a lower current account deficit in 2021 in the range of surplus 0.3% to deficit 0.5% of GDP and remain
manageable in the range 1.1-1.9% of GDP in 2022, thus supporting external sector resilience in Indonesia.
Bank Indonesia projects credit growth in 2021 will be around 4.0-6.0% and increase to 6.0-8.0% in 2022
LOAN
元
Rp
Economic Growth
Inflation
CAD (% of GDP)
Credit Growth
2018
Realisation
5.17%
3.13%
2.98%
11.75%
2019
5.02%
2.72%
2.71%
6.08%
Realisation
2020
Realisation
-2.07%
1.68%
0.4%
-2.4%
surplus 0.3%
2021
3.2-4.0%
3.0±1%
4.0-6.0%
to deficit 0.5%
Source: Bank Indonesia
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