Indonesia’s economy to grow by five per cent in 2022: World Bank
The World Bank Tuesday projected the Indonesian economy to grow close to five per cent in 2022 after experiencing pressure from COVID-19 in 2020 and 2021.
Chief Economist for the East Asia and Pacific Region, World Bank, Aaditya Mattoo, said the government’s efforts in overcoming the pandemic would drive this growth.
He observed that Indonesia chose a hybrid approach by tightening people’s mobility and trying to support the economy at the same time.
“Indonesian government has been taking an early measure to carry out a vaccination programme which has become a factor in boosting the economy because recovery is highly dependent on people’s immunity,” he said.
Mr Matoo added that accelerating vaccination programmes, massive tracing, testing and treatment efforts, and social distancing campaigns, are helping restore the economy.
Meanwhile, according to the World Bank, Nigeria’s economy is expected to grow by 2.1 per cent in 2022.
Lead Economist for Nigeria, Marco Hernandez, said inflation, especially in food prices, caused an increase in poverty and food insecurity.
He said the COVID-19 induced crisis is expected to push over 11 million Nigerians into poverty by 2022.
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