WB: Indonesian economy to grow higher in next two years

15:02 | 20/04/2017 Global Economy

The World Bank forecast that Indonesia would grow 5.3 percent and 5.4 percent by 2018 and 2019, respectively, higher than 5.02 percent recorded in 2016.

llustrative image (Source: channelnewsasia.com)

According to the East Asia and Pacific economic update recently released by the lender, the growth projection is based on the pace of the world economic recovery, which is predicted to grow 2.7 percent by 2018 and 2.9 percent by 2019, compared to 2.3 percent in 2016.

WB leading economist Hans Anand Beck commented that the Indonesian economy could benefit from credit activities and increase in the prices of fuel and other commodities.

With a surplus of 13 billion USD, Indonesia is in the 15th place in the list of 16 partners with which the US posts trade deficit. China tops the list with a surplus of 347 billion USD, followed by Japan, Germany, Mexico, Ireland, Vietnam, Italy, the Republic of Korea, Malaysia, India, Thailand, France, Switzerland, Taiwan (China), and Canada.

Theo VNA