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🇮🇩 Indonesia /Economy & Trade

5.29 Percent Growth, In This Economy? Skepticism Greets Indonesia's Economic Figures

From Tempo · () Indonesian

Translated from Indonesian, summarized and contextualized by DistantNews.

At a glance

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  • Indonesia's economy grew 5.29 percent in the second quarter of 2026, a figure that has drawn skepticism from some economists and the public.
  • Independent research institutions like LPEM UI estimated growth significantly lower, around 4.8 percent, highlighting a notable gap with the official statistics.
  • The public's unease is partly fueled by the popular

Indonesia's economy expanded by 5.29 percent in the second quarter of 2026, according to Statistics Indonesia (BPS). However, this official figure has been met with skepticism, echoing a popular Gen Z expression: "growth that strong, in this economy?"

This phrase, widely used as a meme, conveys sarcasm and resignation about difficult economic circumstances, suggesting ambitions are out of reach due to economic realities. The skepticism towards the 5.29 percent growth is understandable, especially following a first quarter where BPS reported 5.61 percent growth, exceeding market consensus.

The discrepancy was even more pronounced in the second quarter. The Institute for Economic and Social Research at the University of Indonesia (LPEM UI), a respected institution, estimated growth at just 4.8 percent. This official figure is 0.49 percentage points higher than LPEM UI's forecast, a significant gap in GDP growth metrics.

DistantNews Editorial

Originally published by Tempo in Indonesian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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