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View all search resultsIndonesia’s economy grew by just 4.87 percent in the first quarter of 2025, its weakest Q1 performance since 2022, despite a seasonal boost in consumer spending during Ramadan and Idul Fitri. The slower-than-expected growth casts early doubts on President Prabowo Subianto’s ambitious economic targets, including achieving 8 percent annual growth by 2029 and reaching high-income status by 2045.
President Donald Trump has ratcheted up tariffs on Chinese goods to eye-watering levels, prompting Beijing to slap retaliatory duties on US imports in an intensifying trade war between the world's two biggest economies that markets fear will lead to a global recession.
The country's second largest lender by assets saw its profit dip due to higher loan loss provisioning and operational costs, the latter attributed to the recent three-way merger to form Bank Syariah Indonesia that also led to a 20 percent boost in Q1 assets.
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