Bank Indonesia estimates that the Indonesian economy in the third quarter of 2021 will grow by 5 percent year-on-year (yoy) and reach 4.5 percent in the fourth quarter of 2021. "In the third quarter, economic growth can reach 5 percent yoy and in the fourth quarter it will reach 4.5 percent," said Bank Indonesia (BI) Governor Perry Warjiyo in a virtual press conference, Tuesday (21/9/2021). Perry said that despite experiencing a slowdown at the beginning of the third quarter of 2021, the domestic economy in August 2021 had again shown a recovery trend. This development is influenced by the return to improvement in community mobility in line with the easing of the mobility restriction policy as a result of the response to the better handling of Covid-19.
Improvements were also reflected in the performance of various early indicators, such as retail sales, consumer expectations, PMI Manufacturing, as well as payment transactions through SKNBI and RTGS, which again increased. "On the external side, export performance continues to improve, supported by strong demand from major trading partners," he explained. Perry estimates that the economic recovery will continue in line with the acceleration of vaccination, export performance that remains strong, the opening of priority sectors which is wider and the policy stimulus continues. With these developments, BI projects that economic growth in 2021 will remain in the projected range of 3.5 percent to 4.3 percent.
