IMF projection should not dampen economic confidence: Minister

Jakarta (ANTARA) - Minister of State Secretary Prasetyo Hadi affirmed that the International Monetary Fund's (IMF's) projection of Indonesia's economic growth at 4.7 percent this year should not dampen national spirit and optimism.

In his statement received here on Wednesday, Hadi noted that such economic projections are routine from international institutions.

"It is entirely reasonable for institutions to provide assessments or growth projections for our nation's economy," he stated.

However, he emphasized that the Indonesian government remains optimistic about the strength of the nation's economic fundamentals.

He highlighted several positive indicators in Indonesia's economy, including stable economic growth, controlled inflation, strong household consumption, and a maintained investment climate.

"Our investment climate is also safeguarded, as evidenced by the achievement of the investment targets in the first quarter," he remarked.

Hadi also highlighted the government's continuous efforts to promote investment cooperation with various countries, including simplifying regulations that are deemed to hinder the investment process.

"On one hand, the government is intensively promoting investment cooperation along with simplifying and reevaluating regulations that may slow down our investment processes," he stated.

Hadi called on all national elements to remain united and confident in facing global economic challenges.

"We need collaboration among the government, the private sector, workers, and society. Let us work together to build our economy moving forward with full optimism," he affirmed.

In its April 2025 World Economic Outlook report, the IMF revised Indonesia's economic growth projection for 2025 from 5.1 percent to 4.7 percent.

The World Bank also earlier projected Indonesia's economy to grow by five percent this year, but has since lowered its forecast to 4.7 percent.