Economic Slowdown, Stimulus Unlikely
No countercyclical stimulus is forthcoming from Bank Indonesia or the government, even as Indonesia’s economy slows. There is no new hope on the horizon.
Yopie Hidayat
November 25, 2024
INDONESIA’S economy is losing momentum. The recent data showed that the economic growth slowed to 4.95 percent year-on-year by the end of the third quarter of 2024, down from 5.05 percent in the previous quarter.
Export revenues, a key driver of economic expansion, have also diminished. While Indonesia recorded a trade surplus of US$24.43 billion from January to October 2024, this marked a 21.7 percent drop from the same per
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