JP Morgan and ADB Report Indonesia's Economy Among the Most Resilient to Global Crises Worldwide

JAKARTA, KOMPAS.com - Indonesia is considered one of the countries with the best economic resilience in facing potential global crises.

Finance Minister Purbaya Yudhi Sadewa stated that Indonesia’s position is assessed as stronger than several major countries such as the United States (US), China, and even Australia.

The statement was made based on the results of JP Morgan’s analysis.

“Even in a global crisis, we are number two in strength compared to other countries. Even above America, China, Australia, and others. This is from JP Morgan,” said Purbaya at the APBN KiTA event at the Ministry of Finance office in Jakarta on Tuesday (5/5/2026).

Purbaya also said that the Asian Development Bank (ADB) has a similar assessment of Indonesia’s economic resilience.

However, ADB’s analysis results are said not to have been officially published because they are feared to trigger unrest in other countries with lower economic resilience positions.

Purbaya claimed to have received direct information from ADB officials regarding Indonesia’s position in the top ranks.

“But they can’t publish it, because if they publish it, the countries below will be shaken, so they asked not to publish it. But officially, ADB told me we are above, maybe in the top two as well,” he explained.

According to him, such comparisons are not supported by adequate economic data and ignore the current fundamental economic conditions.

Purbaya explained that Indonesia experienced a prolonged recession for about a full year before the 1998 economic and political crisis occurred.

The current situation is assessed as different because Indonesia’s economy is still growing and has not entered a recession phase.

“Take note, in 98 the government fell after the economy was in recession for a full year. Now, far from recession, we are still expanding, still accelerating,” Purbaya elaborated.