Indonesia expects 5% economic growth despite IMF forecast
Indonesian Finance Minister Sri Mulyani Indrawati has expressed confidence that the country’s economy will grow by up to 5% in 2025, despite the International Monetary Fund (IMF) having revised down its growth forecast for Indonesia to 4.7%.
Indonesian Finance Minister Sri Mulyani Indrawati (Source: Antara/Hafidz Mubarak A)
Jakarta (VNA) – 🌃Indonesian Finance Minister Sri Mulyani Indrawati has expressed confidence that the country’s economy will grow by up to 5% in 2025, despite the International Monetary Fund (IMF) having revised down its growth forecast for Indonesia to 4.7%.
As reported by the daily online English-language newspaper Jakarta Globe, speaking after the second quarterly meeting of the Financial System Stability Committee (KSSK), the minister said the IMF’s latest projection was below its previous one of 5.1%. She noted the downward revision is milder compared to other trade-dependent countries like Thailand, Vietnam, and the Philippines.
To address risks, she said the government is strengthening its domestic economic foundation through a mix of fiscal and monetary coordination.
Export performance, particularly in palm oil, steel, and electrical machinery, showed improvement in March, helping to balance weaker commodity prices, she said. Meanwhile, authorities are actively exploring new markets, including within ASEAN Plus 3, BRICS, and Europe, to counter the impact of US trade barriers./.
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Currently, the country’s national poverty rate stands at an average of 8.57%. The provinces with the highest numbers of people living in poverty are East Java, Central Java, and West Java, the minister said.
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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.
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