First-Quarter Economic Growth Was Only 4.87%, Consider the Future Prospects of the JCI

The Central Statistics Agency (BPS) reported that Indonesia's economic growth in the first quarter of 2025 reached only 4.87% year -on-year (yoy ). Domestic economic activity remained the primary driver of national economic performance in the first three months of this year.

Responding to this situation, Fakhrul Fulvian, Chief Economist at Trimegah Sekuritas Indonesia, stated that the stock market had anticipated a slowdown in economic growth below 5%. This was reflected in the weakening stock index throughout April.

"Economic growth below 5% was already priced in by the market last April," Fakhrul told Kontan, Monday (5/5).

Looking ahead, Fakhrul explained that market players' attention will be focused on the prospects for economic recovery in the second quarter and beyond. Government spending realization is a key factor eagerly awaited to support the recovery.

"Here, the recovery of state spending is key. We assume the JCI is currently in the recovery phase. Government communication and execution are key," said Fakhrul.

With expectations of economic improvement beginning to take shape, Fakhrul estimates the Jakarta Composite Index (JCI) has the potential to strengthen to 7,500 by the end of the year.

For additional information, the JCI (IHSG) performance as of 1:16 PM WIB on Monday (May 5) was at 6,851, a 0.53% gain in one day. However, over the past three months, the index has weakened by 3.6% and is down 3.23% year-to-date.

Source: Kontan

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