JakartaGlobe-Apr 8
Indonesia’s economy is expected to continue to grow by over 5 percent in 2024 and 2025, according to a report by ASEAN+3 Macroeconomic Research Office (AMRO). The report shows that Indonesia was estimated to witness a real gross domestic product (GDP) growth of 5 percent in 2023. Indonesia’s real GDP growth is forecast to reach 5.2 percent in 2024. It will also expand by 5.2 percent the following year.
“Indonesia is quite amazing in a sense that its growth rate has always been just a bit above 5 percent, even through the pandemic. It has been growing within the range of 5 and 5.3 percent,” AMRO’s chief economist Hoe Ee Khor told a hybrid press briefing on Monday. Indonesia recently held the world’s largest single-day election, and has officially declared the current defense minister Prabowo Subianto as its next president. Prabowo has promised Indonesians to continue Jokowi’s policies, while also introducing the free school lunch program as his strategy to slash the stunting rate. Early estimates show that Indonesia will require approximately up to Rp 120 trillion (about $7.5 billion) in the first year of its implementation. The costs will increase to Rp 450 trillion in 2029, during which the program is expected to already reach all students across the archipelago. Indonesia has set an ambitious goal of attracting Rp 1,650 trillion in combined investments this year, surpassing the 2023 target of Rp 1,400 trillion. Last year, the country recorded about Rp 1,418 trillion in total investments, about 52.4 percent of which came from foreign investors. Read more at: https://jakartaglobe.id/business/indonesias-economy-to-grow-52-pct-in-2024-2025-report
