Growth is slowing in Indonesia and events thousands of miles away are playing a part

• The Indonesian economy has been riding a strong wave in recent years, with record growth in 2022.
• However, Russia's invasion of Ukraine, which has dented economies around the world, is contributing to growth slowing down in Indonesia.
• The food sector has been strongly affected by the war in Ukraine, which has disrupted wheat and fertilizer imports into Indonesia.

After recording economic growth of 5.3% in 2022, the strongest for almost a decade, Indonesia is now braced for growth to slow down intensified by Russia's invasion of Ukraine. With weakening commodity and energy prices denting export earnings, Indonesia is contending with economic headwinds as fears of a global recession mount.