Bank Indonesia (BI) revised its forecast for global economic growth in 2021 from 5.1% to be higher.

BI Governor Perry Warjiyo said that the revision was driven by economic improvements in the United States (US) and China, which progressed faster than other countries.

"In the US, the economic recovery is predicted to be stronger, in line with a smooth vaccination process and a larger addition to the fiscal stimulus. In China, the higher economic recovery is supported by improving domestic and global demand," he said at a virtual press conference on Tuesday. (20/4).

The higher global economic recovery, according to Perry, is seen from the development of some early indicators in March 2021, such as the Purchasing Managers Index (PMI), consumer confidence, and increasing retail sales in several countries.

"In line with the improvement in the global economy, the volume of trade and world commodity prices will continue to increase, th