Higher FDIs and Consumer Confidence to Support Indonesia’s 7% GDP Growth in 2Q 2021: Minister

On the back of the realisation of rising foreign direct investments (FDIs) and an inching up of the consumer confidence index, Indonesia’s economy is expected to reach almost 7% growth in the gross domestic product (GDP) in the second quarter of 2021 (2Q 2021), said Coordinating Minister for Economy, Airlangga Hartarto, according to media reports.

Why it Matters?

At the end of March 2021, realisation of FDIs reached 54.6%, whilst the consumer confidence index (of those with expenses below IDR 5 million) was 90.1, moving towards the normal zone of 100. The growth of Indonesia’s exports and imports, gross fixed capital formation and government spending all saw positive trends. Additionally, increases in the prices of commodities such as coa...