Indonesia's COVID-19 Vaccination and Economic Resilience Strategy
Outlook of Domestic Economy Remains Robust
...the domestic economic recovery is continued to strengthen in 2023
2023 Economic Outlook
• Bank Indonesia projects economic growth in 2023 continue to accelerate to the range of 4.5-5.3% in 2023.
• Bank Indonesia projects inflation in 2023 back to within the range of 3.0% ±1% target. Inflation is expected to return to the
target corridor in the first half of 2023.
● Bank Indonesia projects current account will post a surplus of 0.4% - deficit 0.4% of GDP in 2023.
● Bank Indonesia projects credit growth in 2023 will be accelerate to 10.0-12.0%
Ap
LOAN
Economic Growth
π
Inflation
CAD (% of GDP)
Credit Growth
2018
Realisation
5.17%
3.13%
2.98%
11.75%
2019
5.02%
2.72%
2.71%
6.08%
Realisation
2020
-2.07%
1.68%
0.4%
-2.4%
Realisation
2021
3.69%
1.87%
surplus 0.3%
5.24%
Realisation
2022
4.5-5.3%
> 3.0±1%
surplus
9-11%
0.4% -1.2%
2023
4.5-5.3%
3.0±1%
surplus 0.4% -
10-12%
deficit 0.4%
Source Bank Indonesia
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