UOB Indonesia Economic Outlook 2022

Indonesia has been affected by the impacts of COVID-19 pandemic since the year 2020, which the country’s economy contracted by more than two per cent - the lowest since the monetary crisis in 1998.

Nevertheless, the country has not given up hope due to its strong resilience driven by responsive and integrated economic, monetary and fiscal policies. The acceleration of the national vaccine rollout is also projected to restore public and business confidence in the economic recovery. Such condition will inevitably pave the way for Indonesia to a new normal era, a more progressive economy with a faster deepening of financial markets supported by digital-based technology.

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Empowering the Indonesian Economy for Stronger Recovery

UOB Indonesia, along with distinguished and notable speakers, has shared insights and reviews on a list of issues that need to be addressed and responded to in the new normal era.

We should use the pandemic as a momentum to transform the Indonesian economy. Let us seize these opportunities while continuing to maintain our health, in order to achieve sustainable and equitable economic growth.
H. Joko Widodo
President of the Republic of Indonesia

Looking ahead, we see opportunities emerging in the areas of connectivity, digitalisation and sustainability. With a strong base of young, enterprising talent who are skilled and digitally savvy, Indonesia is well equipped to tap these opportunities while playing a significant role in the region. Mr Wee Ee Cheong
CEO and Deputy Chairman, UOB

Forging a Sustainable Business Post-Pandemic Recovery

As the global economy, including Indonesia are recovering amidst the pandemic, UOB Indonesia identified three key trends that will play an important and strategic role in sustaining the recovery and the revival of Indonesia.

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Empowering SME as a Backbone for Stronger Recovery

Small and Medium Enterprises(SMEs) contributed majority of Indonesia’s domestic economy growth. In order to further strengthen the country’s economy, UOB Indonesia proposed strategies, including access to digitalisation and business credit to allow SMEs to be integrated into large and medium-sized business ecosystem.

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UOB Indonesia Insights

UOB Indonesia is forecasting Indonesia’s economy to grow at least five per cent in 2022 as the country focuses on furthering structural reforms, creating sustainable commodity revenue streams, leveraging strong domestic consumption and capitalising on its connectivity to global value chains.

Further insight of UOB Economic Outlook 2022 from UOB economist are available for download.

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