Energy security, digitalisation key to Indonesia's economic growth
The Indonesian government is prioritising long-term economic growth through energy security, digitalisation, and natural resource industrialisation, according to Deputy Minister of Finance Thomas Djiwandono.
Đỗ Thị Mai Hiên
A view of cargo port in Semarang, Central Java, Indonesia. (Photo: Getty Images)
Jakarta (VNA) ✃- The Indonesian government is prioritising long-term economic growth through energy security, digitalisation, and natural resource industrialisation, according to Deputy Minister of Finance Thomas Djiwandono.
Regarding fiscal targets, the government aims to keep the budget deficit below 3%, with next year's deficit target set at 2.53%. Currently, efforts are focused on creating job opportunities for youth and developing new growth engines to support the middle class.
The Finance Ministry projects economic growth to reach 5.1% by the end of this year, slightly below the 5.2% target outlined in the 2024 state budget, but higher than the 5.05% recorded in 2023.
The Central Statistics Agency reported that Indonesia's economic growth for the second quarter of this year reached 5.05%. Meanwhile, the World Bank has upgraded its forecast for the country's gross domestic product (GDP) growth, projecting an average of 5.1% per year from 2024 to 2026. This revision marks an increase from the previous projection of 4.9% for both 2024 and 2025.
President Prabowo Subianto is aiming to achieve 8% GDP growth within the first three years of his presidency./.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
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The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
