President Jokowi Proud That Indonesia's Economy Grows Stable 5 Percent

JAKARTA - President Joko Widodo (Jokowi) is proud of the conditions in the country considering that Indonesia's economy has grown stable in the range of 5 percent. "Alhamdullilah and we should be grateful that Indonesia is still growing and stable," said President Jokowi at the 2023 Bank Indonesia Annual Meeting as reported by ANTARA, Wednesday, November 29.

Economic growth in the range of 5 percent and inflation which tends to be stable at 2.6 percent, he considered proud when compared to the growth of other countries, such as Malaysia (3.3 percent), the US (2.9 percent), South Korea (1.4 percent), and the European Union (0.1 percent).

"This is when we talk to other heads of state; with the president, with the prime minister, we are proud of our growth, which is still in the range of 5 percent," he said.

However, the President highlighted reports from business actors who said the circulation of money in Indonesia was getting 'dryer'.

According to Jokowi, the dry circulation of money in the real sector was due to the large number of instruments purchased by the Ministry of Finance and Bank Indonesia.

"Don't, don't use too much to buy SBN, or too much to buy SRBI or SVBI, so that those who enter the real sector are reduced," he said.

Therefore, President Jokowi invites all banks to be careful (prudent) in running their business.

"I invite all banks to be prudent, indeed they must be careful but please encourage more credit, especially for MSMEs. Don't buy all of them to BI or SBN, although it's okay, but so that the real sector can look better than last year," he said.

The Head of State also mentioned the low realization of central and regional spending, which was at 76 percent and 64 percent respectively, even though the 2023 budget year was only two months left.

"I always follow things like this every day. The Minister of Finance (Sri Mulyani) I definitely call (to find out) what the real condition is," said Jokowi.