Airlangga: the economy continues to grow amidst global uncertainty

Global economic conditions are still difficult, we can see that the impact of inflation is still relatively high. Then the second, of course, commodity prices continue to weaken, ….

Jakarta (Armfalcon.com) – Coordinating Minister for the Economy Airlangga Hartarto said that the economy continued to grow by 5.03 percent in the first quarter of 2023 compared to last year amid global uncertainty.

“Global economic conditions are still difficult, we can see that the impact of inflation is still relatively high. Then the second, of course, commodity prices continue to weaken, and the global economy tends to
experiencing a slowdown risk,” Airlangga said in a press conference at the Office of the Coordinating Ministry for Economic Affairs, Jakarta, Friday.

In six quarters, Indonesia’s economy grew above 5 percent which shows that the national economy is still solid.

“We also see growth in employment by 3 million people compared to February 2022, and also a large decline in the unemployment rate of 0.41 million from 8.4 million to 7.9 million people,” he said.

Also read: BPS: Indonesia’s economy grew 5.03 percent in the first quarter

All expenditure components experienced positive growth, such as exports which were still growing by 11.68 percent year on year, household consumption grew 4.54 percent, and gross fixed capital formation (PMTB) grew 2.11 percent.

“Government consumption expenditure also grew again at 3.99 percent, meaning that growth in budget absorption is also relatively good,” he said.

Also read: Coordinating Minister for Airlangga: The increase in PMI is an opportunity to increase Indonesia’s investment

From the side supply From the business sector, the manufacturing sector is still the largest contributor to Gross Domestic Product (GDP), namely 18.57 percent and a positive growth of 4.43 percent, which is supported by the automotive or transportation equipment, metal or downstream, food and beverage industries, and various other productive industries.

“The transportation and warehousing sector grew 15.93 percent, and accommodation and food and drink grew 11.55 percent. This is in line with the termination of PPKM at the end of 2022 so that people’s mobility increases,” he said.

source: www.antaranews.com

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