Jakarta, Aug. 10 -- State-owned insurance holding company Indonesia Financial Group (IFG) is optimistic that Indonesia's economy can grow by up to 5 percent year-on-year (yoy) in 2025, after recording 5.12 percent growth in the second quarter of the year.

Research by IFG Progress projects 2025 growth in the range of 4.7-5.0 percent. Although inflation remains a challenge, improvements in the trade balance and public spending are emerging, supported by Bank Indonesia's decision to cut its benchmark interest rate to 5.25 percent in July 2025.

In a written statement here on Sunday, IFG Corporate Secretary Denny S. Adji also underscored the insurance sector's contribution to national economic growth.

The financial services and insurance se...