Indonesia’s planning minister announced Monday that the country targets an annual GDP growth rate of 5.3% to 5.6% for 2025, with a fiscal deficit goal set between 2.48% and 2.8% of GDP. The projections were discussed in a meeting with President Joko Widodo, who is nearing the end of his final term. The government’s 2025 budget plans are being tailored to accommodate the initiatives of the upcoming administration, set to take office in October. This comes as Indonesia’s economy saw a slight decrease in its growth rate to 5.05% in 2023 from 5.3% the previous year, attributed to declining commodity prices and the impact of stringent monetary policies. However, officials are optimistic about a rebound to 5.2% growth in 2024, fueled by election-related spending and the resurgence of private investment post-election.