IMF makes new recommendations for Indonesia’s economy
The International Monetary Fund (IMF) has given some comments on Indonesia’s economy as the country is undergoing a government transition from President Joko Widodo to President-elect Prabowo Subianto, at a recent press briefing on the Asia Pacific Department Regional Economic Outlook April 2024.
Jakarta (VNA) – The International Monetary Fund(IMF) has given some comments on Indonesia’s economy as the country isundergoing a government transition from President Joko Widodo to President-electPrabowo Subianto, at a recent press briefing on the Asia Pacific DepartmentRegional Economic Outlook April 2024.
Krishna Srinivasan, Director of the Asia and PacificDepartment, said at the April 30 event that “we are waiting to see details ofthe new government when it comes into office. But from what we've seen, thereis more emphasis on continuity of policies.”
“We'll have to see the details of how the fiscal planspan out. But overall, we see this as a way of continuity in reforms, continuityin the way Indonesia made good progress over the years. And that's reflected inpretty much strong fundamentals.”
Thomas Helbling, Deputy Director of the Asia andPacific Department, said “if Indonesia closes the infrastructure gap, if itcloses education gaps, if it improves on governance structure, we could seehigher potential growth.”
The fund keeps its forecast for Indonesia’s economicgrowth at 5% in 2004 and 5.1% in 2025.
Helbling said Indonesia has a tax ratio of about 10%,which is very low relative to the structural spending needs for education,infrastructure, social safety net.
“So, we see determined action on revenue reform wherethe IMF has laid out options for revenue reform as of utmost importance for thenew administration,” he noted.
The 5% is a very robust growth rate, and Indonesia hasperformed very well, growing very close to potential over the past decade, hesaid./.
Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.
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Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
In a supermarket in Indonesia. (Photo: VNA) 
