Tuesday, October 3, 2023

Finance Minister Confident Indonesia to Remain Bright Spot in Global Economy

The Jakarta Globe
November 8, 2022 | 5:01 pm
SHARE
Tanjung Priok Port workers unload containers from a cargo ship in North Jakarta. (Antara Photo)
Tanjung Priok Port workers unload containers from a cargo ship in North Jakarta. (Antara Photo)

Jakarta. Finance Minister Sri Mulyani Indrawati is in a buoyant mood after the Central Statistics Agency (BPS) reports on Indonesia’s robust economic growth in the third quarter and uninterrupted surpluses in international trade for over two years, saying on Monday that Indonesia will continue to be “the bright spot” of the global economy.

The BPS has announced that the economy grew by 5.72 percent in the third quarter year-on-year while the trade surplus rose by 12.58 percent to $14.92 billion.

“The economic growth is distributed evenly across all provinces with the island of Java contributing 56.3 percent to the overall growth,” Sri Mulyani wrote on social media posts.

The country’s most-populated island is home to six provinces including the capital city Jakarta.

Advertisement

According to BPS data, the Eastern islands like Maluku, Papua, and Sulawesi also enjoyed strong growths of between 7.5 and 8.2 percent.

“The trade balance has been in surpluses for 29 months in a row, indicating that Indonesia’s economic recovery is sustainable and getting stronger,” she said.

The strong third quarter growth was supported by the return of public mobility and resilient people’s purchasing power thanks to various government subsidies and social assistance, she said.

“With all these achievements, we are confident that the bright spot status will stay with us. But we must remain vigilant due to rising factors of global uncertainties,” the minister said.

BPS Head Margo Yuwono said the national economy has been resilient amid the global slowdown as quarterly growth has topped 5 percent since December of last year.

“Since the fourth quarter of 2021, our economy has been growing by above 5 percent to indicate persistent and stronger growth. In the face of global uncertainties, we can safeguard the economic growth and which is getting stronger,” he said.

Tags: Keywords:
SHARE

POPULAR READS


Business 6 hours ago

KB Bukopin to Issue $20m Green Credit to EV Firm INVI

These green credits are expected to support the development of Indonesia’s EV ecosystem.
News 12 hours ago

A Riled Trump Sounds Off Outside the New York Fraud Trial

The trial could cost him control of Trump Tower and other prized properties.
News 15 hours ago

Constitutional Court Upholds Validity of Job Creation Law

In a tight decision, all nine Constitutional Court justices voted 5-4 in favor of the government.
Special Updates 16 hours ago

Bekasi Sneakers Expo Returns to Summarecon Mall Bekasi

As many as 22 tenant booths of various brands --including Wilio Indonesia, SNDRN, and Yozugoods-- joined the 2023 Bekasi Sneakers Expo.
Business 17 hours ago

ASEAN, Canada A Step Closer to Concluding Trade Deal by 2025

ASEAN and Canada are moving a step closer towards that target as both sides have recently held their fifth round of negotiations.
COPYRIGHT © 2023 JAKARTA GLOBE. ALL RIGHTS RESERVED