Indonesian Economy Greets 2020
All of a sudden, the end of 2019 is here, and the dawn of 2020 will rise on the horizon. It is undeniable that 2019 was a tough year for Indonesia.
/https%3A%2F%2Fkompas.id%2Fwp-content%2Fuploads%2F2019%2F12%2F20191230_ENGLISH-ANALISIS-EKONOMI_B_web_1577719818.jpg){kind=logo}
An aerial view of container loading and unloading activities before the turn of the year at Tanjung Priok Port, North Jakarta, Monday (30/12/2019). The loading and unloading activities will continue ahead of the turn of the year. The government is targeting national economic growth in 2020 at 5.3 percent. This figure is the same as the target of economic growth this year.
All of a sudden, the end of 2019 is here, and the dawn of 2020 will rise on the horizon. It is undeniable that 2019 was a tough year for Indonesia. Three important events took place: the US-China trade war, the 2019 presidential election and the prospect of recession in the US and around the globe.
Macroeconomic data from Statistics Indonesia (BPS) is available only until the third quarter of 2019. Seasonally, the economy was at its lowest point at that time because of both the business and political cycles. As a consequence, looking forward cannot be done by merely looking at the trends, and must also involve a number of leading indicators, such as Bank Indonesia’s consumer confidence index (CCI; IKK in indonesian).