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View all search resultsIndonesia’s gross domestic product growth has decelerated in the second quarter, making the government’s target for the full year – a milestone toward reaching President Prabowo Subianto’s goal of 8 percent growth in his tenure – a tall order.
Though the World Bank has downgraded its growth projection for Indonesia due to the economic fallout from the Iran war, a move preceded by a similar revision by the OECD last month, the government insists on the achievability of the state budget target.
Inflation across the vast region stretching from the Cook Islands in the Pacific to Kazakhstan in Central Asia was expected to gather pace as countries bounced back from the pandemic, and energy and food costs rose, it said.
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