Indonesian Finance Minister Sri Mulyani Indrawati said on Wednesday, “the risks to the economy in 2022 and 2023 include tapering in us and EU, China economic policy, supply disruption.”

Additional comments

“High commodity prices have begun to affect Indonesia’s inflation, but inflation now still mild.”

“Indonesia consumption and production have returned to pre-pandemic levels.”

“Indonesia Q4 GDP seen around 5% YoY, taking 2021 full year growth to 4%.”

Market reaction

In reaction to these above comments, the Indonesian rupiah came under renewed selling pressure, as USD/IDR rose to fresh two-day highs of 14, 377.