Good News From BI, Economic Growth Can Still Touch 5.5 Percent Despite The War In Ukraine

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

JAKARTA - Bank Indonesia (BI) assesses that Indonesia's economic condition remains strong despite significant fluctuations, both domestically and abroad. BI Governor Perry Warjiyo said that fundamentally, domestic economic conditions were still maintained in line with the easing of the spread of the Omicron variant of the COVID-19 virus. amid increasing geopolitical risks between Russia and Ukraine. "The estimated economic growth is supported by improvements in household consumption and non-construction investment as well as positive growth in government consumption," he said when holding a virtual press conference on Thursday, March 17. Export performance is expected to remain good, although not as high as growth in the previous quarter, in line with geopolitical impacts and restrained global trade activity. " he said.

Furthermore, Perry explained that a number of economic indicators until early March 2022 remained good, such as retail sales, consumer confidence, cement sales, and community mobility in various regions. "With this reading, economic growth in 2022 is estimated to remain in the range of 4.7 percent to 5.5 percent," concluded BI Governor Perry Warjiyo.