Indonesian Economy Shines in the Dark

We must not let our guard down or feel complacent. The government, together with the monetary authorities, need to prepare a contingency plan if the threat of global uncertainty hits Indonesia.

The ghost of a recession, which has been talked a lot about by many economists, is actually moving further away from Indonesia.

The encouraging sign can be seen from the latest data on economic growth which has continued to improve over the past year. Statistics Indonesia (BPS) recently reported a gross domestic product (GDP) growth rate of 5.7 percent year-on-year (yoy) in the third quarter of 2022, so for three consecutive quarters the economy continued to grow. The numbers also showed an upward trend: 5.01 percent in the first quarter, 5.44 percent in the second quarter and 6.72 percent in the third quarter.