Fuelling the gloom is a growing fear among analysts and economists that political paralysis will prevent Indonesia from building on last year's economic upturn, which was led by robust exports and a burst of consumer spending. Mari Pangestu, a top economist at Jakarta's Centre for Strategic and International Studies, is less sanguine.
Government debt is another source of worry.
Meanwhile, the country continues to bleed capital. With many factories now running at close to full capacity thanks to last year's partial economic recovery, the lack of fresh investment will soon begin to show. Practically the only scrap of good news is that inflation remains on a tight leash, thanks in part to Bank Indonesia's deft handling of monetary policy. Indonesia's external picture does not look rosy either. Exports, the hero of last year's recovery, will no longer be able to drive economic growth.