Airlangga revealed the success of Indonesia’s economic growth

So it’s not that we’re five percent in six consecutive quarters to be business as usual, but we’ve managed to grow amid global uncertainty and we’re higher than the average of other countries

Jakarta ( – Coordinating Minister for the Economy Airlangga Hartarto stated that Indonesia’s economic growth which managed to reach 5.3 percent in the first quarter of 2023 or above 5 percent for six consecutive quarters was not a business as usual.

“So it’s not that we’re five percent in six straight quarters to be business as usual, but we managed to grow in the midst of global uncertainty and we are higher than the average of other countries. I thank the Governor of Bank Indonesia because the movement to deal with inflation that continues to roll lower our inflation in April 2023 by 4.33 percent from March 4.97 percent,” he said at the opening of the Digital Financial Economy Festival (Fekdi) which was monitored on an ongoing basis. virtual in Jakarta, Monday.

In the first quarter of 2023, the growth of other countries such as China is at 4.5 percent, the United States is 1.8 percent, the European Union is 1.3 percent, South Korea is 0.8 percent, and Germany is 0.2 percent. According to Airlangga, Indonesia’s economic growth which is higher than that of other countries is something that cannot be done.

“This (Indonesia’s economic growth) is above the market consensus of 4.9 percent,” he said.

Furthermore, Indonesia’s consumption index is considered to be still high because it is at 122.3 in March 2023, the Purchasing Managers Index (PMI) is at the level of 52.7 which shows that the Indonesian economy is in a positive trend, foreign exchange reserves continue to increase by USD 145.2 billion, and the trade balance surplus for 35 consecutive months to reach USD 2.91 billion in March 2023.

“Of course what the Governor of BI is waiting for is the Export Proceeds Foreign Exchange (DHE) regulation. The regulations will be published in the near future, although there are some who are protesting in quotation marks,” said Airlangga.

He ensured that corporations still have export proceeds, and that the government does not regulate banks to save dollars for each exporting company.

“In Indonesia, international banking also operates a lot. So, there is no need for exporters to worry that they will lose their rights to the exported goods and exporters must remember that this is a constitutional mandate. Earth, water, land, and all the wealth of our earth is entirely for the benefit of the Indonesian people and this is the interest of the state which is implemented in the regulation of Export Proceeds,” said the Coordinating Minister for the Economy.

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Reporter: M Baqir Idrus Alatas
Editor: Faisal Yunianto


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