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Bank Indonesia Keep 2021 Econ Forecasts Unchanged

INDONESIA CENTRAL BANK

Bank Indonesia rate decision kicks off, no rate decision yet:

  • Sees global economic recovery continuing, global growth seen at 5.8% in 2021
  • Sees domestic economic momentum continuing
  • Signs of economic activity resuming as of August, with GDP recovery will continue in H2, but is hampered by spread of the Delta variant
  • Keeps domestic growth forecast unchanged at +3.5 - 4.3% for this year
  • Sees GDP recovery supported by increasing mobility, ongoing vaccination penetration and a reopening of the economy
  • Forecasts for current account deficit also unchanged at 0.6 - 1.4%/GDP

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