Indonesia’s economy in turbulent times – Asia Times

The year 2022 got off to a relatively optimistic start for Indonesia. To be sure, Covid had left serious scars — the Economist’s central estimate for “excess deaths” through to December 2022 was about 740,000 fatalities — while the lost education and employment opportunities, especially for poorer communities, will be long-lasting.

But Indonesia’s economic contraction and the resultant increase in poverty were less than those of most comparable middle-income economies. From late 2021 the country’s economic momentum had been regained.

The year also ended well for Indonesia. It received well-deserved praise for its adroit hosting of the November G20 summit in Bali and for keeping alive the flickering spirit of multilateral cooperation and collaboration in an otherwise deeply divided world.

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