BI estimates that Aceh’s economy will grow by 4.4 percent in 2023

If we look at the current economic structure, the economy will grow bigger than in 2022

Banda Aceh ( – Aceh Province’s Bank Indonesia estimates that the province’s economy will grow 3.9 to 4.4 percent in 2023 compared to the previous year’s 4.2 percent.

“If we look at the current economic structure, the economy will grow bigger than in 2022,” said Head of Bank Indonesia Province Rony Widijarto P in Banda Aceh, Friday.

He made this statement regarding the economic performance of Indonesia’s westernmost province in the first quarter, which grew by 4.63 percent year on year.

Also read: BI: Exchange of money via mobile cash cars in Aceh reaches IDR 4.9 billion

He explained that this growth would remain stable even though it had not yet passed the national level while maintaining the downstreaming of the agricultural sector and taking advantage of the existing potential, including accelerating the realization of the regional revenue budget.

“The government must also provide added value to agricultural products and keep prices from getting too high and grow a new economy through downstreaming the agricultural sector which currently contributes a large part to Aceh’s economic growth,” he said.

Then the role played by the Regional Government is to maintain inflation according to the inflation target that has been set and carried out by all regional heads in Aceh.

“We believe Aceh’s economic growth will be achieved in 2023,” he said.

He added that Aceh’s economic growth in the first quarter of 2023 grew by 4.63 percent year on year supported by sectoral growth in the Business Fields (LU) of Wholesale and Retail Trade, and Car and Motorcycle Repair by 1.66 percent and Agriculture, Forestry, and Fisheries 0.92 percent.

Then from the use side, growth was supported by household consumption which grew 1.77 percent, Gross Fixed Capital Formation (PMTB) of 1.49 percent and foreign exports of 1.04 percent.

Furthermore, in nominal terms, the Aceh Province Gross Regional Domestic Product (GRDP) in the first quarter of 2023 at current prices (ADHB) was recorded at IDR 54.25 trillion, Also read: BI targets 5 million QRIS transactions in Aceh by 2023while on the basis of constant prices (ADHK) of IDR 35 trillion.

Reporter: M Ifdhal
Editor: Ahmad Wijaya


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