1、Key FiguresKey Figures GDP Growth(Q2 24)5.5.0505%Inflation(y.o.y,Sep 24)1.841.84%Credit Growth(y.o.y,Q2 24)1 12.532.53%BI Rate(Oct 24)6.6.0000%Current Account Balance(%GDP)(Q2 23)-0.0.9 9%IDR/USD(Oct 24)IDR1IDR15,5755,575 MacroeconomicMacroeconomic,Finance,Finance and Political Economy and Political

2、 Economy Research GroupResearch Group Jahen F.Rezki,Ph.D.Jahen F.Rezki,Ph.D.jahen.frui.ac.id Teuku RiefkyTeuku Riefky teuku.riefkylpem-feui.org Faradina Alifia MaizarFaradina Alifia Maizar faradina.alifiaui.ac.id Difa FitrianiDifa Fitriani difa.fitrianiui.ac.id Mervin Goklas HamonanganMervin Goklas

3、Hamonangan mervin.goklasui.ac.id Hardy SalimHardy Salim hardy.salimui.ac.id Indonesia Economic Outlook 2025 1 To keep you updated with our free monthly and quarterly reports,please subscribe.Scan the QR code belowor go to http:/bit.ly/LPEMCommentarySubscription 20252025 Secular StagnationSecular Sta

4、gnation HighlightsHighlights GDP to grow 4.96%(estimated range 4.94%-4.98%)in Q3-2024,5.00%-5.05%for FY2024,and 5.0%-5.1%for FY2025.Indonesias GDP grew slower from 5.11%(y.o.y)in Q1-2024 to 5.05%(y.o.y)in Q2-2024,driven by substantially slower growth of GoIs spending despite having several various s

5、easonal boosts.11 out of 17 economic sectors experienced a growth decline in Q2-2024 relative to the previous quarter and most of the sectors that had a growth increase in Q2-2024 were driven by seasonal factors.Accounting for 53%of total economic activity,household consumption grew by 4.93%(y.o.y)i

6、n Q2-2024,a slight increase from 4.91%(y.o.y)in the previous quarter,driven by various national holiday periods.Indonesia experienced a five-month consecutive declining inflation rate in May to September 2024,hitting its lowest level in September 2024 since COVID-19 pandemic period.Inflation slowdow