Bank Indonesia Believes Economy To Grow 4.7 To 5.5 Percent In 2022

Governor of Bank Indonesia Perry Warjiyo (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) is optimistic that the current trend of economic recovery will continue until 2022.

BI Governor Perry Warjiyo believes that Indonesia's economic growth in 2022 will reach 4.7-5.5 percent. This amount is higher than this year 's assumption which is estimated to be in the range of 3.2-4.0 percent .

“This projection is driven by the continued improvement in the global economy which has an impact on export performance which remains strong, as well as increasing domestic demand from increased consumption and investment. In addition, it is supported by vaccinations, the opening of the economic sector, and policy stimulus," he said at the opening of the 2021 Bank Indonesia Annual Meeting which was broadcast virtually, Wednesday, November 24.

According to Perry, close policy synergies and economic performance in 2021 are capital to continue to rise and be optimistic about Indonesia's economic recovery in 2022.

"Strengthening synergy and innovation is aimed at creating mass immunity from the COVID-19 pandemic and reopening priority economic sectors, promoting economic recovery in the short term through increased demand policies, and strengthening higher growth in the medium term through structural reform policies," he said.

Perry added that the BI policy mix in 2022 will continue to be synergized and as part of the direction of national economic policy to accelerate recovery while maintaining economic stability.

"The policy mix includes 5 instruments, namely monetary policy, macroprudential policy, payment system policy, money market development policy, as well as MSME policies and sharia financial economy," he said.

For information, the 2021 Bank Indonesia Annual Meeting is intended to award the Bank Indonesia Award to 57 individual or group stakeholders as appreciation for supporting the implementation of the central bank's duties.

It is stated that this award also reflects the synergy between BI and stakeholders together with the government, OJK, and LPS in accelerating the national economic recovery.

"The Annual Meeting of Bank Indonesia is held regularly to convey views on the latest economic conditions, challenges and future prospects, and policy directions as part of public accountability, as well as obtain direction from the President of the Republic of Indonesia," concluded Perry.