JAKARTA: The World Bank has revised down its growth forecast for Indonesia this year by a touch, blaming global uncertainty and warning that rising inflation could crimp consumption in South-East Asia’s biggest economy.
In a quarterly report released yesterday, the bank projected Indonesia’s growth at 5.2% in 2017, down from its previous 5.3% estimate. Growth should be supported by higher private consumption, as well as investment and exports as global economic growth improves and commodity prices recover, the report said.