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- W4313236002 abstract "Since its previous Trade Policy Review in 2013 and prior to the COVID-19 pandemic, despite global challenges, Indonesia’s relatively strong fundamentals and sound macroeconomic policy ensured solid growth and the resilience of its economy. During the review period, the annual average GDP growth rate stood at 5.1% (2013- 19), a minor slowdown compared to previous performance, and continued to be driven by domestic demand; it was underpinned by an accommodative monetary policy mix, adapted to changing external conditions as well as fiscal stimulus measures. To address COVID-19 challenges, several additional support initiatives, including three temporary fiscal stimulus packages, involving traderelated measures and monetary policy action, were undertaken without delay to minimize the economic impact and shore up growth. During the review period, overall total factor productivity appears to have dropped slightly, whereas labour productivity rose somewhat. Developments in Indonesia’s global competitiveness position reflected strengths, inter alia, related to its market size, macroeconomic stability and high rate of technology adoption, but also weaknesses, including relatively low innovation capacity and a relatively unskilled labour force. Inflation dropped significantly to 3% in 2019 (less than half of the 2013 level) and remained within target; during the same period, the unemployment rate also registered a relatively significant decline, to 5% in 2019." @default.
- W4313236002 created "2023-01-06" @default.
- W4313236002 date "2020-01-01" @default.
- W4313236002 modified "2023-10-01" @default.
- W4313236002 title "Report by the WTO Secretariat" @default.
- W4313236002 doi "https://doi.org/10.30875/9789287051035c004" @default.
- W4313236002 hasPublicationYear "2020" @default.
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