JakartaPost-June 17, 2021

The World Bank has maintained its forecast for economic growth in Indonesia but sees a greater downside risk following the emergence of more contagious COVID-19 variants. While the national economy is forecast to expand 4.4 percent this year and 5 percent next year, the global lender sees Indonesia’s GDP rise just 2.1 percent this year and 3.1 percent next year under a worst-case scenario, down from 3.1 percent and 3.8, respectively, in its December outlook. For this year, the World Bank sees Indonesia’s budget deficit at 5.5 percent of GDP, slightly smaller than the government’s estimate of 5.7 percent. It is then projected to gradually fall to 3 percent by 2023, in line with the government’s fiscal consolidation plan.

Read more at: https://www.thejakartapost.com/news/2021/05/06/japan-town-builds-giant-squid-statue-with-covid-grant-.html.