Coordinating Minister Airlangga Calls RI's Economy Strong In Facing Challenges

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto said that the Indonesian economy is strong in facing various global economic challenges with a balanced geopolitical position and agile foreign policy.

"Indonesia is in a strong position to face political and economic challenges as a result of the pandemic, supply chain disruption, and the Russia-Ukraine conflict," Airlangga said as quoted by Antara, Thursday, October 27.

Airlangga also underlined the release of the International Monetary Fund (IMF) World Economic Outlook in October 2022 which maintains Indonesia's economic growth forecast at 5.3 percent for 2022 and around 5 percent in 2023.

"The value of the trade surplus is estimated to reach 60 billion US dollars in 2022, which shows a significant increase compared to the 22 billion US dollar surplus in 2011," said Airlangga.

Airlangga said that Indonesia is attractive to global investors because it is part of a stable region, including in regional and global value chains, has a large market, provides quality investment projects, and is consistent with sustainable development goals.

Currently, Indonesia has a number of new and ongoing projects that can meet the Sustainable Development Goals (SDGs) targets, which cover strategic issues such as clean energy, gender equality, information technology, public health, and food security.

The Government of Indonesia also recognizes the important role of the Public and Private Sector Partnership in realizing investment commitments in sustainable projects.

"By hosting the G20 Summit in November in Bali, Indonesia has shown its leadership to gain a global position that can benefit both developing and developed countries. Indonesia will also continue its international leadership by supporting the ASEAN Chair in 2023," added Airlangga.

USINDO Co-Chair Robert Blake emphasized that Indonesia has strong economic indicators with increasing exports, a relatively low inflation rate, a steadily strengthening stock market situation, and has the second highest FDI growth in ASEAN.

"United States private companies are currently waiting for further news from the Indonesian government to be able to expand their business expansion in Indonesia," continued Robert Blake.