IDNEWSNOW.COM, Jakarta – The International Monetary Fund or IMF tasks Indonesia’s financial growth will experience contraction, with a minus 0.3 percent growth this year. The outlook is composed in IMF‘s June 2020 World Economic Outlook (WEO) released Wednesday, June 24.
However, the IMF estimates Indonesia’s financial growth will rebound up to more than 6.1 percent. Compared to other emerging economies, Indonesia’s contraction is lower – for example next to Argentina (-9.9 percent), Brazil (-9.1 percent), India (-4.5 percent), Korea (-2.1 percent), Malaysia (-3.8 percent), Mexico (-105%), Thailand (-7.7 percent), and the Philippines (-3.8 percent).
In its forecasts, the IMF said that the world’s economic axes, China and the United States, experienced substantial distinctions. The United States is estimated to experience an economic contraction of approximately 8 percent, while China handled to evade contraction with development of 1 percent in 2020.
The IMF also forecasted that the world will deal with many unpredictabilities in recuperating from the worst economic crisis since the Great Depression, due to the lack of medical options to suppress the novel Coronavirus transmission.
IMF‘s Director of Research Gita Gopinath said that excellent news on Covid-19 vaccines and treatments– coupled with additional policy assistance– can result in a much faster reboot of economic activities.
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