Indonesia economy news

Here are some recent news and updates on the Indonesian economy:

GDP Growth

• Indonesia's economy grew 5.02% in the second quarter of 2022, according to data released by the Central Statistics Agency (BPS). This is a slight increase from the 4.73% growth rate in the first quarter. (Source: Bloomberg)
• The government has set a GDP growth target of 5.3% for 2022, which is slightly higher than the 5.2% growth rate achieved in 2021. (Source: The Jakarta Post)

Inflation

• Indonesia's inflation rate rose to 3.23% in July 2022, driven by higher food and transportation costs. This is above the central bank's target range of 2-4%. (Source: Reuters)
• The government has implemented measures to control inflation, including reducing fuel subsidies and increasing the minimum wage for workers. (Source: The Jakarta Post)

Trade

• Indonesia's trade surplus widened to $2.3 billion in June 2022, driven by a surge in exports of palm oil and coal. (Source: Bloomberg)
• The country has set a target to increase its trade surplus to $10 billion by 2024, up from $3.5 billion in 2021. (Source: The Jakarta Post)

Investment

• Indonesia has attracted $14.4 billion in foreign investment in the first half of 2022, up 14.5% from the same period last year. (Source: The Jakarta Post)
• The government has implemented various measures to attract more foreign investment, including simplifying regulations and increasing the use of digital technology. (Source: Bloomberg)

Infrastructure Development

• The government has launched a new infrastructure development program, which aims to invest $400 billion in infrastructure projects over the next five years. (Source: The Jakarta Post)
• The program includes plans to develop new airports, seaports, and roads, as well as improve public transportation systems. (Source: Bloomberg)

Currency

• The Indonesian rupiah has weakened against the US dollar in recent months, due to concerns over the country's current account deficit and inflation. (Source: Reuters)
• The central bank has intervened in the foreign exchange market to stabilize the currency, and has also raised interest rates to attract foreign investors. (Source: Bloomberg)

Other News

• Indonesia has been ranked as the 16th most competitive economy in the world, according to the World Economic Forum's Global Competitiveness Index. (Source: The Jakarta Post)
• The country has also been named as one of the most promising markets for e-commerce growth, with the online retail market expected to reach $53 billion by 2025. (Source: Bloomberg)