Macro - Country Economic Forecasts - Indonesia
We have maintained our 2022-2023 GDP growth forecasts for Indonesia at 5.7%, despite downside risks stemming from the Russia-Ukraine war and weaker growth prospects for China. We project a continued recovery in domestic demand, with the Covid pandemic's drag on the economy fading and prices remaining below the midpoint inflation target despite the recent uptrend. While global trade will likely weaken amid ongoing geopolitical tensions, demand for commodities remains strong, which bodes well for a net commodity exporter like Indonesia.
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