April 30, 2020 / 6:46 AM / a month ago

Indonesia c.bank revises down Q1-Q3 GDP growth, keeps full-year outlook

JAKARTA, April 30 (Reuters) - Bank Indonesia (BI) lowered its projection for GDP growth in the first quarter through to the third quarter, but expects a stronger recovery in the final quarter of the year and kept the full-year forecast for 2020, its governor said on Thursday.

The economy was seen expanding 4.3% on a yearly basis in January-March, Governor Perry Warjiyo told a hearing with parliament’s finance commission, down from the central bank’s previous forecast of 4.5%-4.7%.

Growth is seen bottoming at 0.4% in April-June before accelerating to 1.2% and 3.1% in subsequent quarters, the governor said, compared with BI’s previous outlook of 1.1%, 1.3% and 2.4% in the second, third and fourth quarter, respectively.

BI maintained its 2020 GDP growth forecast at 2.3%. (Reporting by Gayatri Suroyo and Tabita Diela; Editing by Himani Sarkar)

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