A port in the storm: Indonesia’s economy in troubled global times

Indonesia’s economy has been largely sheltered from the lasting impacts of the Covid-19 pandemic. It has maintained growth, while avoiding the rampant inflation and subsequent monetary policy tightening seen elsewhere. Indonesia recently bounced back into the upper-middle income group. Policy-makers cite effective leadership through the pandemic as one of the protective factors. However, the global inflationary pressure is high and monetary policy remains hawkish around the world. How can Indonesia maintain its economic performance in this climate? Professor Suahasil Nazara, Vice Minister of Finance, Indonesia, will explore Indonesia’s planned reforms as it executes an economic transformation aimed at reaching high income status by 2045.

Professor Suahasil Nazara

Prof. Nazara is the Vice Minister of Finance, Indonesia. He is an expert on the economics of development, regional economics, labour economics, poverty, social protection, and econometrics. He studied at Universitas Indonesia and Cornell University before earning his PhD from the University of Illinois. Prior to his appointment to the Ministry of Finance, Prof. Nazara was a committed academic and an active and leading economist. During the COVID-19 pandemic, he was appointed as the chair of the National Economic Recovery Task Force. He has also served as Deputy Chairperson of the Job Creation Law Task Force since 2021.