AmCham Indonesia’s first Economic Forum of 2023 saw a timely discussion on the nation’s economic outlook, as Indonesia’s GDP growth reached a 10-year high of 5.31 percent in 2022. Held virtually today, Feb 8, the forum featured a detailed briefing by Bank Mandiri’s Chief Economist, Andry Asmoro.
Andry began with a presentation on the global economic outlook, highlighting inflation and the rising recession risk both globally and domestically. While risks related to the global economic slowdown, the 2024 election, and falling commodity prices are relatively measurable, the risks of geopolitical factors remain unpredictable. He predicted the domestic economy would not experience recession but expected slowing demand. Seeing how well the Indonesian government has managed the inflation rate, and how the domestic sectors support the growth of the national economy, Indonesia seems more resilient than most.
While unexpected circumstances might arise through the year, the government should be able to manage investment and manufacturing performances to keep economic growth on track, he said. The government and companies must work hand-in-hand to boost performance and ensure growth remains steady, especially if Indonesia aims to get out of the middle-income trap by 2043.
A busy Zoom chatbox saw the audience positive about the session, especially on how companies must overcome the challenges and cope with the economic situation. AmCham Indonesia would like to extend our thanks to all participants. We hope it was beneficial for offering insights on the current economic situation.
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