The OECD expected domestic demand in Indonesia to recover in the second half, supported by easier financial conditions, contained inflation, and investments from Danantara, Indonesia’s newly established sovereign wealth fund.
A cargo port in Semarang city of Central Java province, Indonesia (Illustrative photo: Getty Images/VNA)
Jakarta (VNA) 🌸- The Organisation for Economic Cooperation and Development (OECD) has lowered its forecast for Indonesia's economic growth down to 4.7% this year, from the previous 4.9%, due to weakened domestic sentiment and heightened external risks.
Official data from Statistics Indonesia showed that the economy grew by only 4.87% in the first quarter of this year, the slowest pace in more than three years and falling short of the 5% average growth it had maintained for years.
The OECD expected domestic demand in Indonesia to recover in the second half, supported by easier financial conditions, contained inflation, and investments from Danantara, Indonesia’s newly established sovereign wealth fund.
Regarding Indonesia’s exports, the OECD projected growth of just 4% this year, a sharp slowdown from the 6.5% growth recorded in 2024. Export growth is forecast to decelerate further to just 1.9% next year.
The Indonesian Government hoped that joining the OECD will help the country achieve its vision of becoming a developed economy by 2045, known as the Golden Indonesia Vision./.
The IM is a key document in the accession process, containing an independent assessment of the alignment between national regulations, standards, and practices with OECD norms and standards.
Indonesian President Prabowo Subianto has announced plans to establish a national labour welfare council that comprises labour leaders and prominent public figures to advise on policies affecting workers’ rights.
Themed “emerging trends in terrorism and violent extremism”, the event drew over 200 participants from domestic and international agencies, discussing the rapid evolution of terrorism and the need for stronger regional and global cooperation.
Indonesia aims to start nuclear power generation by 2034, with a government roadmap already in place to develop small modular reactors (SMRs) with capacities ranging from 300 to 500 megawatts.
The package, endorsed on June 24, comprises 481 projects designed to boost GDP by an additional 0.4% and generate temporary employment for about 7.4 million people nationwide.
An Indonesian official emphasised that energy security is extremely essential amid global geopolitical and economic fragmentation, highlighting the need for the energy industry to strengthen resilience and responsiveness in the face of fluctuating oil prices and the shift to clean energy.
ASEAN must deepen collaboration through platforms such as the ASEAN Senior Officials Meeting on Transnational Crime (SOMTC) to ensure regional responses keep pace with the rapidly evolving cyber threat landscape.
Speaking at the launch of the Indonesia Economic Prospects June 2025 edition on June 23 in Jakarta, Turk noted that Indonesia’s gross domestic product (GDP) expanded 4.9% in the first quarter of 2025 compared to the same period last year.
Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
A specialist police unit has acquired a fleet of off-road vehicles to help officers navigate rough, unpaved terrain – and flood waters – to respond more quickly to public security incidents.
The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.
The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.
Investigators believe the operation is part of a broader scam network involving romance scams, where victims are lured into fake relationships and persuaded to transfer money.
Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
