The Organisation for Economic Co-operation and Development (OECD) has projected that Indonesia's economic growth will slow from 5.3% in 2022 to 4.7% in 2023. This projection is more pessimistic than the forecasts of the World Bank and the International Monetary Fund (IMF). The OECD also predicts that global economic conditions will remain challenging, with growth slowing from 3.2% in 2022 to 2.6% in 2023, due to ongoing uncertainty from the Russia-Ukraine conflict and the potential for energy commodity price fluctuations.
Despite these projections, the OECD believes that Indonesia and other Asian countries have better growth prospects than the US and Europe, as developing Asian economies are less affected by global slowdowns, aided by China's economic recovery and more moderate inflationary pressures. The OECD encourages countries to continue tightening monetary policies and strengthening cooperation to address food and energy security, debt repayment for low-income countries, and carbon emissions mitigation efforts.
