The Indonesian economy is projected to grow by a range of 5.3 to 5.7 percent in 2019 as a result of the current structural reform, a Bank Indonesia official said.
"In 2019, the productivity of investment and infrastructure will have a very significant impact and the economy will grow at a faster pace," Bank Indonesia Deputy Governor Perry Warjiyo explained in the seminar "Synergy on the VUCA World, Maintaining the Resilience Momentum of Economic Growth" in Jakarta on Thursday.
“Currently, the domestic economy is in the process of recovering from the slowdown, but the recovery process, coupled with controllable stability, has run faster than expected”, disclosed the Deputy Governor.
“This is evident from the inflation rate, which stayed below 4 percent up to August 2017 and the current account deficit, which could be kept under control”, he claimed.
He projected that if the mixture of monetary and fiscal policies, coupled with the consistent economic structural reform conducted by the government runs well, the economy will grow at a faster pace after 2019.
"In 2019, it could grow 5.3-5.7 percent and further move up to 6 percent a few years later," he said.
Besides structural reform, he explained that Indonesia also needs to step up its micro-prudential resilience. "It needs to maintain economic stability, including financial flow. Global crisis occurred a few years ago due to over-financing, over-credits and so on" he finished.