Bank Indonesia revised its global economic growth target this year to 5.8% from 5.7% previously.

"The global economy is estimated to grow higher than previous projections, amid uncertainty in global financial markets that are increasing again in line with the spread of the Covid-19 delta variant in a number of countries," said BI Governor Perry Warjiyo in a statement in Jakarta on Thursday (22/7).

According to Perry, the increase in economic growth was recorded in the US and the European region in line with the acceleration of vaccinations and continued fiscal and monetary stimulus, while China's economic growth remained high.

The economic outlook for India and the ASEAN region is estimated to be lower in line with the implementation of mobility restrictions to address the re-escalation of COVID-19 cases.

Trade volumes and world commodity prices were also predicted to be higher, thus supporting the improved export