Indonesian Minister of Finance Sri Mulyani Indrawati has said she was optimistic of overall economic growth of 5.2–5.3% in 2022, with a possibility of growth in the range of 5.0% in the fourth quarter.
Indonesian financial officials walk together after a meeting with President Joko Widodo at the Presidential Palace complex in Jakarta on Monday (January 16, 2023). (Photo: ANTARA)
In a press statement related to the plenary cabinet meeting, which was followed online on January 16, she said Indonesia’s economic growth has also started to recover and the momentum is strengthening. At the same time, domestic inflation is still relatively low because food prices get managed to remain stable.
According to her, the improvement in Indonesia's economy has been visible because investment has recovered, exports are still high, and imports are recovering to support the manufacturing industries.
She revealed all economic sectors have recovered, especially the sectors that were affected badly during the COVID-19 pandemic, such as the transportation, accommodation, and food and beverage sector, which contracted 15% and 10%, respectively.
She added in the third quarter of 2022, both sectors were able to grow 21% and 11.3%, respectively.
Indrawati said the recovery pushed Indonesia’s gross domestic product (PDB) to be recorded at 6.6%, higher than that of 2019 or before the pandemic struck. The economic recovery is expected to reduce unemployment and poverty from 7.1% and 10.2%, respectively, to 5.9% and 9.5%./.