Reconstruction of the national economy post-covid-19 pandemic: Critical study of tax reforms in Indonesia

Figures & data

Table 1. Real GDP (Percent change from the previous year)

Percentage point differences from January 2022 projections
	2019	2020	2021e	2022 f	2023 f	2024 f	2022 f	2023 f
World	2.6	−3.3	5.7	2.9	3.0	3.0	−1.2	−0.2
Advanced economies	1.7	−4.6	5.1	2.6	2.2	1.9	−1.2	−0.1
United States	2.3	−3.4	5.7	2.5	2.4	2.0	−1.2	−0.2
Euro area	1.6	−6.4	5.4	2.5	1.9	1.9	−1.7	−0.2
Japan	−0.2	−4.6	1.7	1.7	1.3	0.6	−1.2	0.1
Emerging markets and developing economies	3.8	−1.6	6.6	3.4	4.2	4.4	−1.2	−0.2
East Asia and the Pacific	5.8	1.2	7.2	4.4	5.2	5.1	−0.7	0.0
China	6.0	2.2	8.1	4.3	5.2	5.1	−0.8	−0.1
Indonesia	5.0	−2.1	3.7	5.1	5.3	5.3	−0.1	0.2
Thailand	2.2	−6.2	1.6	2.9	4.3	3.9	−1.0	0.0
Europe and Central Asia	2.7	−1.9	6.5	−2.9	1.5	3.3	−5.9	−1.4
Russian Federation	2.2	−2.7	4.7	−8.9	−2.0	2.2	−11.3	−3.8
Turkey	0.9	1.8	11.0	2.3	3.2	4.0	0.3	0.2
Poland	4.7	−2.2	5.9	3.9	3.6	3.7	−0.8	0.2
Latin America and the Caribbean	0.8	−6.4	6.7	2.5	1.9	2.4	−0.1	−0.8
Brazil	1.2	−3.9	4.6	1.5	0.8	2.0	0.1	−1.9
Mexico	−0.2	−8.2	4.8	1.7	1.9	2.0	−1.3	−0.3
Argentina	−2.0	−9.9	10.3	4.5	2.5	2.5	1.9	0.4
The Middle East and North Africa	0.9	−3.7	3.4	5.3	3.6	3.2	0.9	0.2
Saudi Arabia	0.3	−4.1	3.2	7.0	3.8	3.0	2.1	1.5
Iran, Islamic Rep.^3	−6.8	3.4	4.1	3.7	2.7	2.3	1.3	0.5
Egypt, Arab Rep.^2	5.6	3.6	3.3	6.1	4.8	5.0	0.6	−0.7
South Asia	4.1	−4.5	7.6	6.8	5.8	6.5	−0.8	−0.2
India^3	3.7	−6.6	8.7	7.5	7.1	6.5	−1.2	0.3
Pakistan^2	3.1	−0.9	5.7	4.3	4.0	4.2	0.9	0.0
Bangladesh^2	7.9	3.4	6.9	6.4	6.7	6.9	0.0	−0.2
Sub-Saharan Africa	2.6	−2.0	4.2	3.7	3.8	4.0	0.1	0.0
Nigeria	2.2	−1.8	3.6	3.4	3.2	3.2	0.9	0.4
South Africa	0.1	−6.4	4.9	2.1	1.5	1.8	0.0	0.0
Angola	−0.7	−5.2	0.7	3.1	3.3	3.2	0.0	0.5
Memorandum items:
Real GDP
High-income countries	1.7	−4.6	5.1	2.7	2.2	2.0	−1.1	−0.2
Middle-income countries	4.0	−1.3	6.8	3.3	4.2	4.5	−1.3	−0.3
Low-income countries	4.8	1.9	3.9	4.1	5.3	5.7	−0.8	−0.6
EMDEs excluding Russian Federation and Ukraine	3.9	−1.5	6.7	4.2	4.5	4.5	−0.5	0.0
EMDEs excluding China	2.5	−4.0	5.6	2.7	3.4	4.0	−1.5	−0.4
Commodity-exporting EMDEs	1.8	−3.8	4.8	1.2	2.6	3.2	−2.1	−0.5
Commodity-exporting EMDEs, excluding Russian Federation and Ukraine	1.8	−4.0	4.8	3.7	3.3	3.4	0.3	−0.1
Commodity-importing EMDEs	4.9	−0.4	7.5	4.4	4.9	5.0	−0.8	−0.1
Commodity-importing EMDEs, excluding China	3.2	−4.2	6.6	4.6	4.5	4.9	−0.7	−0.1
EM7	4.5	−0.5	7.3	3.3	4.3	4.7	−1.5	−0.4
World (PPP weights)^4	2.9	−3.0	6.0	3.1	3.4	3.5	−1.3	−0.2
World trade volume^5	1.4	−8.0	10.3	4.0	4.3	3.8	−1.8	−0.4
Commodity prices^6
Oil price	−9.9	−33.9	66.5	42.0	−8.0	−13.0	35.0	3.8
The non-energy commodity price index	−4.2	3.3	32.7	17.9	−8.1	−3.1	19.9	−4.1

Source: World Bank (https://www.worldbank.org/en/news/press-release/2022/06/07/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets)

Figure 1. Effect of COVID-19 on (A) Energy and Food Prices, (B) Population in Food Insecurity.

Figure 2. (A) Indonesia’s GDP and economic growth (2002–2021), (B) Total unemployment and Indonesia’s open unemployment rate (2015–2021).