Political climate and global monetary condition will be two of the key themes that will affect Indonesian economy 2024. The upcoming general election may have mixed effects on growth and other macroeconomic indicators in 2024. On one hand, Indonesia will carry out its first ever simultaneous elections (Pemilu Serentak) from national to city level; consequently...Read More

We would like to share LPEM’s Indonesia Economic Outlook Q3-2023. Available in both Indonesian and English, it contains our perspective on Indonesia’s economy with particular emphasis on the progress of GoI’s industrialization agenda. Following are the highlights of this edition of Indonesia Economic Outlook Q3-2023: Grew 5.03% (y.o.y) in Q1-2023, Indonesian economy has managed not...Read More

Indonesia has managed to get through episodes of inflationary pressure, high commodity prices, global monetary tightening, and value chain disruptions rather splendidly. Economy grew by 5.31% (y.o.y) for overall 2022 after recording higherthan-expected growth at 5.01% (y.o.y) in Q4-2022. The persistent notable performance of economic growth was supported mainly by the solid domestic demand following...Read More

Despite the economic bleakness in the global economy following serious disruptions of prolonged Covid-19 spread, geopolitical tension, rising food and energy prices, and overheating inflation throughout 2022, Indonesia has managed to persistently grow at 5.72% (y.o.y) in Q3-2022. The figure is the highest level in the last ten years and marks its third consecutive quarter...Read More

Indonesia’s economy kept growing beyond expectations throughout 2022. In Q22022, the GDP figure grew substantially above consensus at 5.44% (y.o.y), making it the second-highest growth rate of Indonesia’s economy since 2013 and being only lower to the growth rate of 7.07% (y.o.y) in Q2-2021. Several factors come into play in driving this high rate of...Read More

The auspicious progress in the domestic public health situation has transpired into a solid GDP growth of 5.01% (y.o.y) in Q1-2022. In the first half of 2022, Indonesia was in an advantageous position to face the latest global economic turmoil. Thanks to the combination of good policy and good luck, first, a rapid buildup of...Read More

Contrary to what was expected in the early last year, Indonesia did not fully recovered in 2021 and did not reach its pre-pandemic level of growth. Ending 2021 with GDP growth of 5.02% (y.o.y) in Q4-2021, Overall economic growth in 2021 is recorded at 3.37% (y.o.y). Waves of several Covid-19 variants has served as the...Read More