In line with the downward revision of its global economic outlook, the International Monetary Fund (IMF) also cut its outlook for Indonesia’s GDP growth, 5.1% (y/y) both in 2018 and 2019. This is a significant downward revision considering the IMF had its forecast in April for Indonesia’s economic growth at 5.3% (y/y) in 2018 and 5.5% (y/y) in 2019. Key reasons for the revision are monetary policy decisions in several of the top economies, simmering trade concerns, and rising crude oil prices.
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