Warning Signs for Indonesia’s Economy

Tempo collaborated with Celios to examine developments in the Indonesian economy over the past three months. Warning signs of a recession are emerging.

Fery Firmansyah

April 14, 2025

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INDONESIA’s economy came under relentless pressure during the first quarter of this year. Tax revenues plunged, spending and debt swelled, and consumer purchasing power sagged, while the effects of a looming trade war triggered by the United States are fast approaching. Warning signs are flashing across sectors, especially in financial markets. In collaboration with the Center of Economic and Law Studies (Celios)Tempo has tracked dev

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