At 5.1 percent in Q1-2024, GDP growth remains resilient surpassing the middle-income countries' average. Robust private consumption accounted for 57 percent of GDP growth. This reflects consumer confidence supported by softening inflation in nonfood products, the hike in civil servant wages, and robust performance in consumer services. Publicconsumption rebounded in Q1-24 driven by electionrelated and social spending. This rebound outweighs the negative contribution to growth of net exports as weak global demand and commodities price volatility have dampened exports earnings.
Authors
- Disclosure Date
- 2024/06/21
- Disclosure Status
- Disclosed
- Doc Name
- Indonesia Economic Prospects : Unleashing Indonesia's Business Potential - June 2024
- Product Line
- Advisory Services & Analytics
- Published in
- United States of America
- Rel Proj ID
- ID-Indonesia Macroeconomic Analysis And Policy Dialogue -- P179556
- Sector
- Central Government (Central Agencies)
- TF No/Name
- TF0B9196-ABIP TF Macro PASA
- Theme
- Inclusive Growth,Job Creation,Economic Policy,Economic Growth and Planning,Private Sector Development,Jobs,Macroeconomic & Structural Policy Modelling
- Unit Owning
- EFI-EAP-MTI-MacroFiscal-2 (EEAM2)
- Version Type
- Final
- Volume No
- 1
Table of Contents
- Table of Contents 3
- LIST OF FIGURES, TABLES, BOXES 4
- Preface 6
- Abbreviations 7
- Executive Summary 9
- A. Economic Update 14
- 1. Recent Economic Developments 14
- 2. The Policy Stance 19
- 3. Structural Trends 23
- 4. The Outlook and Risks 28
- 5. Policy Priorities 31
- B. Unleashing Indonesia’s Businese Potential 0
- 1. Introduction 35
- 2. Performance of the Private Sector 38
- 3. Tackling Regulatory Uncertainty, the Next Challenge 42
- 4. Takeaways and Policy Recommendations 48
- Annex 50
- References 51
