As Prabowo Subianto looks set to succeed Joko Widodo as President, economic growth remains resilient and inflation has stayed low over the past year.
But external risks, including Russia's war on Ukraine, continue to cloud the horizon.
The World Bank warned in January that global growth will slow for the third consecutive year, to 2.4% in 2024, when the global economy may record the slowest half-decade of GDP growth in 30 years.
The government remains hopeful of hitting its 5.2% target in 2024, said Coordinating Minister for Economic Affairs Airlangga Hartarto in early February, acknowledging the risks posed by global economic turmoil, such as the Ukraine-Russia conflict.
Regional leadershipTo reach developed country status, a nation typically requires sustained annual economic growth of 7% for 15 consecutive years.
Persons:
Prabowo, Joko Widodo, Krisna Gupta, Widodo, Economic Affairs Airlangga Hartarto, Sri Mulyani, Radityo Dharmaputra, Indonesia's
Organizations:
World Bank, State of, Global, Center, Indonesian, Center for Indonesian, Studies, Bank, Economic Affairs, for Economic Co, OECD, Universitas Airlangga, Ukraine, Insider Studios, Foreign, Commonwealth & Development Office
Locations:
Indonesia, Ukraine, State, Russia, Jakarta, Southeast Asia, Crimea, Subianto