5.29 Percent Growth, In This Economy?
Indonesia's economy grew 5.29 percent in the second quarter. But for many households, the question remains: in this economy?
The Indonesian economy expanded by 5.29 percent in the second quarter of 2026, according to the announcement from Statistics Indonesia (BPS). However, this figure has sparked skepticism and questions among many observers. The statement, "In this economy?" has become a popular meme among Gen Z, expressing sarcasm and resignation towards the country's economic challenges.
This meme gained traction in Indonesia within the past year, reflecting the growing disillusionment with economic realities that seem to surpass achievable ambitions.
The strong growth figure is not the first to raise eyebrows from BPS. In the first quarter of 2026, the agency reported a growth rate of 5.61 percent, notably surpassing the market consensus of around 5.3 percent. This discrepancy of 0.3 percentage points is significant when considering the overall GDP growth. The gap widened even further in the second quarter, with LPEM UI, a respected research institution, estimating the growth rate to be only 4.8 percent.
This estimate presented a gap of 0.49 percentage points compared to the official figure released on August 5 by BPS. LPEM UI, known for its depth of economic analysis and the caliber of economists contributing to its forecasts, stands as a credible source for such assessments.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
