Indonesia Economic Snapshot
Economic Forecast Summary (November 2022)
Economic Outlook Note - Indonesia
Favourable commodity prices and still buoyant capital inflows are helping Indonesia to resist strong global headwinds. However, domestic demand and private consumption growth is being held back by high headline inflation. With foreign investors recognizing the progress made towards macroeconomic stability and enhanced structural reforms, and expanding their reach in Indonesia, GDP growth is projected to average around 5% in 2022 and 2023 and strengthen slightly in 2024.
©Shutterstock/Karabin
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Reform Priorities (April 2021)
Going for Growth 2021 - Indonesia
The COVID-19 crisis has brought to the fore the vulnerability of the population to economic shocks, notably due to extensive informality, lagging skills and low social security coverage. Reforms in areas of skills, labour market regulation and barriers to entrepreneurship are hence top priority for a more resilient and equitable growth.
©Shutterstock/Anton Petrus
Read full country note2021 Structural Reform Priorities
- Education and skills: Improve outcomes in education
- Labour market: Reform labour regulations to reduce informality
- Competition and regulation: Ease barriers to entrepreneurship and investment, and strengthen institutions to fight corruption
- Infrastructure: Improve the regulatory environment for infrastructure
- Energy: Continue to make energy prices more cost-reflective
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