Indonesia's Economic Growth Outlook 5% in 2023

The economic think tank, The Center of Economic and Law Studies is projecting that Indonesia's economy can grow above 5 percent in 2023, even amid forecasts of a global recession next year. This is also in line with the Indonesian Government's projection of 5 points 3 percent growth in 2023.

The Director of Celios, Bhima Yudhistira said that Indonesia's economic growth next year will be driven by strong consumer demand, amid higher spending and relaxations of covid restrictions.

Indonesia is currently implementing the lowest level of covid restrictions all across the country, with places like malls, offices, and public areas all able to open at 100 percent capacity.

The Celios think tank also stated Indonesia will continue to benefit from high commodity prices, while investments are projected to keep flowing into Indonesia as the prospects of the country's economy remain optimistic next year, amid forecasts of a possible global recession.