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Indonesian govt talks of achievement amid global economic slowdown

Tempo - October 10, 2023

Moh. Khory Alfarizi, Jakarta – The Secretary of the Coordinating Minister for Economic Affairs Susiwijono Moegiarso explained several achievements attained by Indonesia amidst the global economic slowdown.

One of which is the economic resilience Indonesia showcased for seven consecutive quarters, presenting more than 5% growth each. "We are grateful," Susiwijono said during a discussion in Jakarta today, Oct. 10.

In addition to the economic growth, Indonesia also showed a controlled level of inflation, successfully suppressed at 2.28% in September. Indonesia's social development also showcased an upward trend.

Due to these achievements, the World Bank once again declared Indonesia an upper-middle-income country since its PCI reached US$4,580 in 2023.

"Hopefully, the PCI next year could reach US$5,500 as envisioned by Bappenas and encouraged the mission to push for US$30,300 per capita income by 2045," Susiwijono said.

The secretary also stated that Indonesia's competitiveness rank has been bumped up 10 positions this year to 34. According to Susiwijono, Indonesia improved its economic performance, the efficiency of the government and business sector, and infrastructure.

Reflecting on these achievements, the government officially submitted for membership in the Organisation for Economic Cooperation and Development (OECD) back in July. The submission also has been discussed during the OECD Council in September.

"Processing the submission requires a significant amount of time, up to 5 to 8 years, but this could be our momentum to improve things in accordance with the international standardization," he concluded.

Source: https://en.tempo.co/read/1782141/indonesian-govt-talks-of-achievement-amid-global-economic-slowdow