2020 state budget

Indonesia aims to expand economy by 5.3% in 2020

Indonesian President Joko Widodo, who was re-elected in the April 17 polls, giving his speech in Parliament yesterday, detailing the government's proposed 2020 state budget.
Indonesian President Joko Widodo, who was re-elected in the April 17 polls, giving his speech in Parliament yesterday, detailing the government's proposed 2020 state budget.PHOTO: AGENCE FRANCE-PRESSE

Stronger domestic consumption and investment inflows expected to help achieve growth target, says Jokowi

Despite continuing external pressures, Indonesia's economy is expected to grow by 5.3 per cent next year, primarily on the back of stronger domestic consumption and investment inflows, President Joko Widodo told Parliament yesterday.

But Mr Joko, who won re-election in the April 17 polls, also highlighted the tougher challenges for the economy ahead amid uncertainties on the global front, including the United States-China trade war and currency depreciation.

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A version of this article appeared in the print edition of The Straits Times on August 17, 2019, with the headline 'Indonesia aims to expand economy by 5.3% in 2020'. Print Edition | Subscribe