Indonesia's 2024 Economic Growth Mirrors IMF Forecast: What's the 2025 Projection?

Economics & Macro

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Adi Ahdiat 06/02/2025 17:35 WIB

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Indonesia's economic growth in 2024 reached 5.03%, similar to the IMF's prediction from a year ago. The IMF now projects that Indonesia's economy will experience stronger growth in 2025.

Indonesia's Economic Growth: Realization and Projection (2015-2025)

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Indonesia's Economic Growth: Realization and Projection (2015-2025)

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According to the Central Bureau of Statistics (BPS) report, Indonesia's economy grew by 5.03% in 2024.

This figure is measured from the value of Indonesia's constant price Gross Domestic Product (GDP), which increased from Rp12.30 quadrillion in 2023 to Rp12.92 quadrillion in 2024.

Indonesia's actual economic growth in 2024 is similar to the International Monetary Fund's (IMF) "forecast."

Previously, in the *World Economic Outlook* (WEO) January 2024 edition, the IMF projected that Indonesia's economy would grow by 5.0% in 2024.

In the latest WEO, January 2025 edition, the IMF predicts that Indonesia's economic growth rate could increase this year.

However, the increase is expected to be limited, only rising by about 0.1 percentage points to 5.1% in 2025.

The IMF also notes that this year there are various risks that could cause the economies of countries to slow down beyond expectations.

"There are short-term risks that tend to benefit the United States but are detrimental to most other countries amid rising policy uncertainty," the IMF stated in the January 2025 WEO.

"For example, the intensification of protectionist policies in the form of new trade tariffs. This can exacerbate trade tensions, reduce investment, reduce market efficiency, distort trade flows, and disrupt supply chains. Growth can decline in both the short and medium term, at varying rates across countries," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."