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Despite the rebound in oil prices economic growth is expected to recover only modestly in 2018 as fiscal consolidation hampers private consumption growth.

Despite the painful short-term effect of rising prices for consumers, in the medium-term the economy should benefit from the IMF-programme related reforms.

Economic expansion has been maintained through robust performance of automotive, aeronautics, chemicals and electronics industries and the tourism sector.

The economic diversification will proceed only slowly, leaving the economy largely dependent on oil revenues and state support for the time being.

Tackling bureaucracy and reforming the tax and subsidy systems are necessary to improve the economic conditions and to reduce the high unemployment rate.

Economic growth is expected to accelerate in 2018 and 2019, due to higher oil prices, stronger external demand and the easing of fiscal consolidation.

Chemicals businesses dependent on raw materials imports are highly exposed to exchange rate volatility and the looming threat of trade restrictions.

Good short-term outlook for the chemicals sector, but Brexit poses a downside risk for businesses profitability and payment behaviour in the mid-term.

Indonesian pharmaceuticals sector growth is driven by a rising population and the roll-out of the government's universal healthcare insurance system.

Further growth expected, but businesses dependent on construction, construction materials and consumer durables still require particular attention.