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Indonesia's economic recovery continues amid global uncertainty: Bappenas

Tempo - January 27, 2023

Riri Rahayu, Jakarta – Indonesian National Development Planning Minister or Bappenas Head Suharso Monoarfa stated that the country's economic recovery continues and is getting stronger amid global uncertainty.

According to him, public mobility and people's purchasing power have become the driving force of economic activities. Besides, the realization of economic development in the third quarter of 2022 was in line with Bappenas' projection of 5.72 percent.

"Rising mobility has positive implications for economic activity, encouraging household consumption to grow higher, despite experiencing a slowdown. Apart from that, the COVID-19 pandemic is also getting under control," said Suharso via his official Instagram account @suharsomonoarfa, quoted by Tempo, on Friday, January 27, 2023.

Suharso added that the investment grew higher than in the previous quarter since most of the supporting indicators improved. The decline in government investment was also balanced by the growth in private investment.

Meanwhile, the growth in government consumption continued to plummet. Suharso argued that as the pandemic was getting under control, the spending for national economic recovery, particularly for healthcare and recovery programs, was slowing down.

"The realization of national economic recovery as of October 14, 2022, was 52.9 percent of the budget ceiling," he mentioned.

Additionally, the growth of exports and imports was also managed to be maintained at double digits. Suharso said that net exports contributed positively in line with the high prices of several commodities.

Source: https://en.tempo.co/read/1684619/indonesias-economic-recovery-continues-amid-global-uncertainty-bappena