JAKARTA. Bank Indonesia (BI) is optimistic that Indonesia’s economic growth can reach 5.3% in 2020, higher than the 2019 prediction of 5.1%.

According to BI Governor Perry Warjiyo, higher economic growth is closely related to the synergy between the central bank and the Financial Services Authority (OJK).

“If we maintain our coordination [with OJK], we will go through 2020 successfully. Inshallah, we will drive economic growth to approach 5.3%,” said Mr Warjiyo in his opening address at the 2020 BI-OJK New Year Reception at the BI headquarters, Thursday (2/1).

As recorded by the Central Statistics Agency (BPS), economic growth as reflected in the GDP in the third quarter of 2019 only grew 5.02%.

In addition, Mr Warjiyo also said that the 2020 inflation rate is targeted at 3%, while the current account deficit (CAD) is estimated at 2%.

The confidence, said Mr Warjiyo, is based on the 2019 achievements which included inflation below 3% and the rupiah exchange rate below Rp 13,900 per US dollar. (AM/MS)