THE Indonesian economy has entered a slow lane. Economic growth in the first quarter 2025 was only 4.87% (yoy). Compared to the fourth quarter of 2024, there was a contraction of 0.98%. The storm of layoffs (PHK) continues to hit. The number of layoffs continues to soar from 25,114 people in 2022, 64,855 people in 2023, and 77,965 people, predicted to continue this year.
The alarm of the sluggish economy can be seen from the decline in tax revenue of 10.8% during the first four months of 2025. The government seems to have a big appetite but it can satisfy it. Optimistic about achieving economic growth of 5%, but the government is stingy with spending.
