Jakarta – The Organization for Economic Cooperation and Development (OECD) has lowered its forecast for Indonesia’s economic growth in 2025 to 4.7%, down from the previous 4.9%.
In response, Coordinating Minister for Economic Affairs Airlangga Hartarto acknowledged the current economic slowdown but emphasized that this is not unique to Indonesia, as it is a nearly global phenomenon.
“In fact, the global economic growth is now being reduced almost entirely,” he stated during a press conference on Indonesia’s readiness developments for OECD membership, held on June 5.
Airlangga also highlighted the decline in global trade activity, acknowledged by WTO Director-General Ngozi Okonjo-Iweala, partly due to tariff policies implemented by the United States on some of its trading partners.
“As a result, some countries are expected to decline between 0.5% to 0.7%,” he said.
To maintain local economic growth momentum, Airlangga mentioned that the government has launched five stimulus packages effective from June to July.
He hopes these measures will sustain people’s purchasing power and support labor-intensive industries affected, including exports to the United States.
“We are also monitoring various countries in the OECD, most of which are also creating packages to maintain their people’s purchasing power in the current situation,” he explained.
— new from VOI.ID