Macro and Economies Views
- Diperbarui pada Senin, 22 April 2024
Indonesia's GDP growth recorded at 5.01% y-y in 4Q22, (FY22: 5.31% y-y).
The slowdown in economic growth was driven by consumption by 4.48% (prev: 5.39% y-y), investment growth by 3.33% y-y (previously: 4.98% y-y). Meanwhile, exports increased by 14.93% y-y (previously: 19.41% y-y) while import growth slowed to 6.25% y-y (previously:25.37% y-y). On the other hand, government consumption fell further by -4.77% y-y (previously: -2.55% y-y).
Source : Statistics Indonesia, Phillip A.M
We see that with the decrease in commodity prices going forward, Indonesia's economic growth in 1Q23 will still grow positively but experience a slowdown, then the inflation rate will also decline in 1Q23. This will certainly be a concern of Bank Indonesia (BI) in determining the direction of interest rates.
p.s (Disclaimer on)
This article is presented by Investment Team of Phillip Asset Management
