INDONESIA’s economic slowdown has continued. The economy grew by 5.31 percent in 2022, decelerating to 5.05 percent in 2023 and edging further down to only 5.03 percent last year.

Notably, last year’s slowdown occurred despite a surge in investment that appeared impressive on the surface. According to data from the Investment Ministry, total realized investment in 2024 reached Rp1,714 trillion, up 20.8 percent from Rp1,650 trill