Jakarta, Nov. 26 -- The Institute for Development of Economics and Finance (Indef) has forecast Indonesia's economy to slow down to 4.8 percent by 2020 owing to challenges from the global and domestic fronts continuing to weigh heavy.

"We observe that in terms of the declining export factors," Indef Research Director Berly Martawardaya remarked at the national seminar on Indonesia's economic projections in Kuningan, South Jakarta, Tuesday.

Martawardaya noted that the projection was lesser than the government-set target of 5.3 percent in the 2020 State Budget that is no easy task to accomplish.

Global challenges are marked by a decline in economic growth and also towards a global recession.

The other challenge is in the form of a trade...