Warning! External Pressure Will Still Continue In 2019
Rakyat Utama. The dynamics of the global economy that suppress domestic economic growth in 2018 are predicted to continue in 2019. This external pressure makes efforts to realize better national economic growth in 2019 become increasingly challenging
This was the view of the Center of Reform on Economics (CORE) Indonesia when releasing the 2019 Economic Outlook report with the title 'Strengthening Economic Fundamentals amid Global Pressures' in Jakarta on Wednesday (11/21/2018).
"2019 is a crucial year because it is actually the last year for the Jokowi-JK government to prove its promise. President Jokowi only has less than one year to prove that 'Jokowi Effects' really exists by making the Indonesian economy grow unremarkable, "said CORE Indonesia Executive Director Mohammad Faisal.
Faisal said, achievements in the economic field until 2018 still missed the promised target. The most obvious is the realization of economic growth which is far below the 7% target. Even though, he said, a number of economic indicators such as poverty, open unemployment, this ratio, and the inflation rate showed significant improvements in the last four years.
"In 2018, we believe that Indonesia's economic growth is still below 5.2%," he added.
Faisal explained, the driving force of the global economy towards the domestic economy in 2019 is predicted to be limited. Because the economic growth of Indonesia's main export destination countries, such as China, the United States (US), and the European Union is estimated to still experience a slowdown next year.
In addition to the slowing down of world economic growth, the momentum of the year of domestic politics also tends to make business people wait and see. As happened in 2009 and 2014, investment growth generally experienced a slowdown in the election year.
"Some technical issues related to licensing arrangements, such as the implementation of a single submission online system that has not been realized, also have the potential to hold back the pace of investment next year," he said.
This was the view of the Center of Reform on Economics (CORE) Indonesia when releasing the 2019 Economic Outlook report with the title 'Strengthening Economic Fundamentals amid Global Pressures' in Jakarta on Wednesday (11/21/2018).
"2019 is a crucial year because it is actually the last year for the Jokowi-JK government to prove its promise. President Jokowi only has less than one year to prove that 'Jokowi Effects' really exists by making the Indonesian economy grow unremarkable, "said CORE Indonesia Executive Director Mohammad Faisal.
Faisal said, achievements in the economic field until 2018 still missed the promised target. The most obvious is the realization of economic growth which is far below the 7% target. Even though, he said, a number of economic indicators such as poverty, open unemployment, this ratio, and the inflation rate showed significant improvements in the last four years.
"In 2018, we believe that Indonesia's economic growth is still below 5.2%," he added.
Faisal explained, the driving force of the global economy towards the domestic economy in 2019 is predicted to be limited. Because the economic growth of Indonesia's main export destination countries, such as China, the United States (US), and the European Union is estimated to still experience a slowdown next year.
In addition to the slowing down of world economic growth, the momentum of the year of domestic politics also tends to make business people wait and see. As happened in 2009 and 2014, investment growth generally experienced a slowdown in the election year.
"Some technical issues related to licensing arrangements, such as the implementation of a single submission online system that has not been realized, also have the potential to hold back the pace of investment next year," he said.
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