Director's Note

Indonesia is one of the fastest-growing economies in Southeast Asia. The country's GDP growth is expected to reach 5.2% in 2023 and 5.5% in 2024. This growth is being driven by a number of factors, including strong domestic demand, rising exports, and increased investment.

The Indonesian government is also taking steps to boost economic growth. In 2023, the government plans to increase spending on infrastructure and social programs. The government is also hoping to attract more foreign investment by simplifying the investment process and providing tax breaks.

The macroeconomic outlook for Indonesia is positive. However, there are some risks that could dampen growth. These risks include rising inflation, a widening current account deficit, and political uncertainty as the country is scheduled to hold presidential elections in 2024.

Inflation is expected to remain high in 2023 and 2024. This is due to a number of factors, including rising food and energy prices. The government is taking steps to control inflation, such as raising interest rates and imposing price controls. However, it is unclear whether these measures will be enough to keep inflation in check.

Overall, the macroeconomic outlook for Indonesia is positive. 

RBA will continue to invest in high-end restaurants and properties nationwide, and we strongly believe Indonesia remains a promising market for investment. The country has a young and growing population and a rising middle class. Despite the global economic instabilities and uncertainties at this point in time, RBA believes with a strong macroeconomic factor there are still vast opportunities in Indonesia for the economy to grow at a fast pace.

With this light of hope, we will continue to strive for the best result and manage our portfolio.

May we all have a safe and prosperous journey in 2023 and God bless us all.

REINO BARACK