Predicted Economic Growth in MIKTA Countries by IMF

The International Monetary Fund (IMF) projects economic growth for several countries worldwide, including those in the MIKTA group.

MIKTA, a multilateral forum comprising Mexico, Indonesia, Turkey, and South Korea, established in 2013, envisions amplifying the voice of middle powers as a bridge for resolving global issues.

In its World Economic Outlook April 2025 report, the IMF projects Indonesia to have the highest annual economic growth within this group, namely 4.7% in both 2025 and 2026.

One factor influencing economic growth is the movement of the manufacturing sector producing goods and services. The IMF notes that manufacturing activity is shifting from developed to developing countries. Indonesia's manufacturing sector is predicted to be bright.

"Production has surged in China and has also expanded in smaller countries in the European Union and ASEAN-5, such as Indonesia, Malaysia, the Philippines, Singapore, and Thailand," the IMF wrote in its report, quoted on Saturday (June 28, 2025).

Next is Turkey, with projected growth of 2.7% in 2025 and 3.2% in 2024. This is followed by Australia with a projected 1.6% in 2025 and 2.1% in 2026.

South Korea, the group's leader in 2025, is predicted to achieve growth of 1% and 1.4% in 2025 and 2026, respectively.

Lastly, Mexico is projected to have negative growth of -0.3% in 2025 and 1.4% in 2026. Mexico's sluggish economic growth is attributed to several factors, one of which is indicated by US President Donald Trump's high import tariffs, reaching up to 25%.

"Mexico has indicated an intention to respond without specifying the measures to be taken; therefore, the reference forecast does not include additional tariffs imposed on Mexican imports from the United States," the IMF wrote.

Future Outlook for MIKTA

MIKTA countries continue to strengthen cooperation in various fields, including economics. During Indonesia's chairmanship of MIKTA from January 2018 to February 2019, the scope of MIKTA cooperation expanded, including in the creative economy. These five countries have also collaborated in research and innovation to anticipate global food crises.

Tri Purnajaya, Director of Development, Economy, and Environment at the Ministry of Foreign Affairs, emphasized that MIKTA operates flexibly and agilely to address global issues. The output of MIKTA is expected to shape convergent policies.

Similar sentiments were expressed by Alonso Martín Gómez-Favila, Chargé d'affaires ad interim of the Mexican Embassy in Indonesia. He stated that this goal can be guided by the shared values held by MIKTA.

"MIKTA members share a common interest in promoting regional stability and global security," Alonso said in a discussion titled "How Can MIKTA members Synergize to Reinvigorate Middle Power Diplomacy" organized by the Foreign Policy Community Indonesia (FPCI) in cooperation with The Korea Foundation in Jakarta on Thursday (June 26, 2025).

Mexico itself has three pillars for strengthening cooperation within MIKTA: First, strengthening bilateral relations; second, promoting international cooperation; and third, consultation on global issues of common interest to support inclusive and effective global governance.

Alonso also mapped out the future of MIKTA, including efforts to promote global governance in overcoming crises through the commitment of the Sustainable Development Goals (SDGs). Here are the details: 

• Promoting global governance and strengthening the voice of developing countries.
• Bridging the gap between developed and developing countries.
• Unifying conflicting global visions within the G20.
• Strengthening multilateralism under the principles of the UN.
• Offering pragmatic and creative solutions to global challenges.
• Addressing crises with a renewed commitment to SDGs.
• Building an effective and transparent system to achieve the SDGs.