Indonesia’s finance minister stated on Thursday ( Apr 24 ) that a government delegation was still negotiating terms with Washington to avoid reciprocal tariffs, stressing that Indonesia’s economic growth this year will likely stay at 5 % despite trade tensions.
The president’s outlook is almost the same as it was last year, at 5.03 per share. President Prabowo Subianto has pledged to increase growth to 8 % by 2029, while the government’s goal is 5.2 % this year.
The Indonesian security committee, which includes its financing minister, governor of the central bank, head of the financial services expert, and head of deposit insurance corporation, made the remarks at an online press conference led by Sri Mulyani Indrawati.
Perry Warjiyo, the minister’s representative in Washington, and Perry Warjiyo, the government of Bank Indonesia, were present at IMF-World Bank meetings.
In addition, a delegation led by Airlangga Hartarto, the country’s main financial minister, was attempting to wrap up trade negotiations within the next 60 days following its May 17 meeting with US trade officials.
Indonesia has offered to purchase more British goods and lower its own non-tariff restrictions during those meetings to prevent the United States from imposing a 32 % tax on its exports.
According to Sri Mulyani,” the government will constantly perform first mitigation, including communicating with the US government, and will continue deregulation efforts to reduce trade barriers as instructed by the president.”
” Work will also continue to support local need,” she continued.
Since the US announced mutual levies in early April, Indonesia’s economic markets have been hit by capital flows. According to Sri Mulyani, the rupiah’s actions against the US dollars are anticipated to be firm.
According to the government, Indonesia’s export to the United States only account for approximately 2 % of the country’s gross domestic product, but the industry war’s effects could have a bigger impact on its economy.
Electronics, clothing, and footwear are important US exports.  ,