Indonesia

The Asian Development Bank (ADB) has conducted research that indicates Indonesia's GDP would increase by 5.0% in 2022 and 5.2% in 2023 as long as domestic demand remains strong. The Indonesian economy soon bounced back from the third-quarter decline, ending 2021 with a higher output than in 2019, the year before to the pandemic. Jiro Tominaga, the ADB's country director for Indonesia, predicts that growth will accelerate in 2022 as the economy continues to stabilize.

Private investment and consumption both increased strongly in 2022, and it is anticipated that the third COVID-19 wave will have little effect on GDP. The inflation rate and the government's expenditure intentions, however, might be significantly impacted by a protracted Russian invasion of Ukraine. Private investment and consumption both increased strongly in 2022, and it is anticipated that the third COVID-19 wave will have little effect on GDP. The inflation rate and the government's expenditure intentions, however, might be significantly impacted by a protracted Russian invasion of Ukraine. According to the Asian Development Outlook (ADO) 2022, Indonesia's consumer spending and manufacturing activity have been steadily rising as a result of the rise in incomes, employment, and confidence. Investment is encouraged by rising demand, a more favorable business and investment environment, and a credit recovery.