As a result of Corona Virus, Indonesia's Economic Growth is Predicted only 4,5 percent in 2020

TRIBUNBATAM.id -- Researchers from the Institute of Development Economics and Finance (Indef), Bhima Yudistira Adhinegara projected Indonesia's economic growth to be only 4.5 percent by 2020.

This number is lower than the projected international rating agency Moody's, which estimates Indonesia's economic growth of 4.8 percent this year.

"Before there was a corona virus, Indef set a growth target in 2020 of 4.8 percent. So if you want to be revised this year growth could drop to 4.5 percent because of the corona virus," Bhima told Kompas.com, Tuesday (10/3) 2020). 

Bhima rate, the impact of the corona virus on the rate of economic growth in Indonesia can be traced through the correlation of economic relations between China and Indonesia. So, for every 1 percent decline in Chinese economic growth, Indonesia's economy could be affected by 0.3 percent.

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The decline in economic growth was due to the quite large correlation between trade and investment between Indonesia and China.

Indef projects that China's economic growth will only be around 5 percent in 2020, down 1 percent compared to 2019.

"If the growth is only 4.5 percent then the GDP is worth Rp. 16,546 trillion. This means we lose Rp. 127 trillion (compared to 2019)" he said. (*) 

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