Indonesia’s growth forecast among highest in ASEAN, G20 countries

Indonesia's economic projections at 5% this year are one of the highest among ASEAN and G20 countries amid the current global turmoil, according to Finance Minister Sri Mulyani Indrawati.

Indonesian news agency Antara quoted the minister's remarks at a recent virtual press conference in Jakarta, in which the official said one of the indicators that makes a positive trend in Indonesia's economy is the expansive manufacturing sector activity, with a Manufacturing Purchasing Managers' Index (PMI) of 51.5 in October 2023.

Indonesia’s growth forecast among highest in ASEAN, G20 countries -0
Finance Minister Sri Mulyani in a virtual press conference in Jakarta on November 24, 2023. (Source: ANTARA/Agatha Olivia V/rst)

Indonesia is included in the 30.4% of G20 and ASEAN-6 countries that recorded expansive Manufacturing PMI, apart from the Philippines, Singapore, India, the US, Mexico, and Russia.

She noted that the Indonesia's 2023 economic growth forecasts issued by various international institutions is 5%, hence a place among the top three nations with economic growth prospects in ASEAN and G20, which also includes India, projected at 6.3% and the Philippines at 5.3%.

This projection is far above the global economic growth estimates of 2.1% from the World Bank and 3% from the International Monetary Fund (IMF), she pointed out.

However, she drew attention to some obstacles in Indonesia's economic growth, such as high inflation, commodity price volatility, and escalating global tensions, among many others./.

VNA

World

Philippines intensifies crackdown on illegal gamers
World

Philippines intensifies crackdown on illegal gamers

Philippine President Ferdinand Romualdez Marcos on December 12 ordered the police and law enforcement agencies to intensify the crackdown on illegal gaming and cyber cam hubs that continue to operate despite the ban, which will take effect by the end of December, the Presidential Communications Office (PCO) said.

Malaysia eyes to become global medtech hub
World

Malaysia eyes to become global medtech hub

Malaysia is on track to become a global medical technology (medtech) hub with its strong policies in attracting and executing the right investments, including the New Industrial Master Plan 2030 (NIMP 2030), said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Southeast Asia poised to become global AI hub
World

Southeast Asia poised to become global AI hub

In the first half of 2024, Southeast Asia (SEA) attracted over 30 billion USD in artificial intelligence (AI) infrastructure investments, according to the 2024 e-Conomy SEA Report from Google, Temasek, and Bain & Company.

Trends drive job openings in Thailand
World

Trends drive job openings in Thailand

Thailand reported 414,000 unemployed people in the third quarter this year, up from 401,000 year-on-year, according to the National Economic and Social Development Council (NESDC).