Ministry Of Finance Responds To 5.17 Percent Economic Growth: Exceeds Expectations

Illustration (Photo: Doc. Ministry of Finance)

The Ministry of Finance (Kemenkeu) positively welcomes the trend of economic growth above 5 percent which continues with the latest score of 5.17 percent year on year (yoy) in the second quarter of 2023.

Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance, Febrio Kacaribu, said the result maintained a record for seven consecutive quarters.

"Indonesia's economy is able to grow high above market analyst estimates," he said in a written statement on Monday, August 7.

According to Febrio, this book is also a reflection of the resilience of national economic activity amid a global slowdown.

"The national achievements achieved are better than the majority of countries and regions, including Vietnam, the European Union, the United States, and South Korea, which grew by 4.1 percent, 0.6 percent, 2.6 percent, and 0.9 percent, respectively," he said.

Febrio explained, several things that support Indonesia's performance include declining inflation, providing social assistance, THR, 13th salary, as well as religious holidays and school holidays that spur public consumption.

"The role of the state budget has proven quite significant in supporting growth performance in the last quarter," he said.

Febrio added that government consumption, which includes personnel spending and goods spending, grew very strongly by 10.62 percent, much higher than the growth in the first quarter of 2023 of 3.45 percent.

"Investment also shows positive indicators which means they are getting stronger," he said.

Sri Mulyani's subordinate revealed that the resilience of a maintained national economic expansion trend is an important capital for future economic growth trends.

"Meskipun demikian, pemerintah tetap akan terus memantau dan mengantisipasi risiko perundaan ekonomi dunia saat ini yang dampaknya terhadap kinerja perdagangan internasional Indonesia," tutup dia.