Coordinating Minister Airlangga Brings Good News, Indonesia's Economic Growth Exceeds China, The United States To South Korea

Coordinating Minister for the Economy Airlangga Hartarto. (Photo: Doc. Antara)

JAKARTA - Coordinating Minister for the Economy Airlangga Hartanto said that national economic growth in the first quarter of 2022 was relatively stable at 5.01 percent. Even so, Indonesia's economic growth is still higher than China to South Korea.

"Our economy in the first quarter was stable, almost the same as the fourth quarter of 2021 at 5.01 percent and this is above several other countries such as China at 4.8 percent, Singapore at 3.4 percent, South Korea at 3.07 percent. The United States alone 4.29 percent and Germany 4.0 percent," he said at a virtual press conference Monday, May 9.

Airlangga also emphasized that Indonesia's economic growth in the first quarter of 2022 was only below Vietnam, which was recorded at 5.03 percent.

Furthermore, Airlangga said global economic growth this year is estimated to be in the position of 3.6 percent to 4.5 percent. However, various institutions, including the OECD, World Bank, ADB, and IMF, estimate that Indonesia's economic growth will be between 5 and 5.4 percent.

"So Indonesia's economic growth is above the global average growth," he explained.

Meanwhile, in terms of inflation, said Airlangga, volatile food inflation in April was 5.48 percent. Meanwhile, administered prices were at 4.83 percent and core inflation was at 2.6 percent.

"So the average inflation in April was 3.47 percent," he said.

On that occasion, Airlangga said that the average inflation was still within the APBN range, namely 3 plus minus 1 percent. Meanwhile, in the business sector, almost all sectors from the supply side are positive, starting from warehousing, industry, services, agriculture, and construction as well as from the demand side, household consumption, PMTB, investment, exports and imports are also positive.

"This is a good sign," he explained.