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Jakarta Post

Muddling through 5 percent

  • The Jakarta Post

Jakarta   /   Fri, January 11 2019   /  01:38 am

Preliminary data from the fiscal and monetary authorities for 2018 indicate macroeconomic stability will remain strong throughout this election year. The consensus analysis among most economists is that oil prices will remain below US$60 per barrel and there will be a pause in the United States Federal Reserve’s monetary tightening.

Barring any bizarre developments related to the April 17 presidential election, such as violent sentiments against foreign investors, the economy is projected to remain stagnant at the 2018 growth of 5 percent. This growth, though, still below the country’s potential economic expansion of 7 percent, is not too bad, as it is similar to the average level of growth most banks have predicted for Asia as a whole, excluding China and India, for 2019.

Finance Minister Sri Mulyani Indrawati reported that total revenues for 2018 had slightly exceeded...