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indonesia faces economic crisis as mass layoffs surge across sectors

Indonesia is facing a significant economic crisis, highlighted by a 20.2% increase in mass layoffs across various sectors, resulting in 78,000 job losses in 2024 alone. The manufacturing sector, once a cornerstone of the economy, has seen its contribution to GDP plummet from 32% in 2002 to just 18% in 2024, signaling a troubling trend of premature deindustrialization. Analysts urge the government to implement swift fiscal and monetary incentives to combat the economic downturn.
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Finance & Economy, News Article
10:30 17.03.2025
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