Indonesia’s economy experienced a milder slowdown in 2020 than its ASEAN-5 neighbours, according the IMF’s April 2021 World Economic Outlook, and also fared better than 16 other G20 members. In spite of ongoing Covid-19-related challenges, the IMF expects Indonesia to experience robust expansion from 2021. The digital economy is slated to remain a key driver of growth, owing to the large, consumption-driven domestic market and the accelerated uptake of digital tools over 2020.
Financial technology and digital payments, e-commerce and food delivery are poised for ongoing expansion, which should help broaden financial inclusion, create jobs and foster a larger customer base for the country’s micro-, small and medium-sized enterprises. Alongside other fundamental growth strategies – including channelling investment into priority areas, and kick-starting construction and infrastructure development – Indonesia’s digital economy looks set to boost the country’s competitiveness and enable long-term, sustainable growth over the coming years.
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