JAKARTA – Coordinating Minister for the Economy Airlangga Hartarto welcomed the record economic growth of 5.01 percent in the first quarter of 2022. According to him, the momentum of Ramadan and Eid this year is a separate motor in accelerating growth.
In addition, Airlangga also assessed that the increase in the Real Sales Index and Indonesian Migrant Workers (PMI) for the Manufacturing Sector, the current account surplus and the strengthening rupiah and the JCI are evidence that the national economy is on the right track of recovery.
"We need to maintain and improve this momentum of economic recovery together so that economic growth throughout 2022 can still grow high," he said in an official statement quoted on Wednesday, May 11.
Airlangga added, structural reforms will continue as a medium-long-term strategy in order to avoid the middle income trap.
"In the short term, in the midst of rising global inflation, the government continues to strive to maintain people's purchasing power through various social protection programs such as cooking oil assistance, cash assistance for street vendors, stalls and fishermen," he said.
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Meanwhile, in terms of regulations, the government continues to seek structural reforms by implementing the Job Creation Law, facilitating licensing through the OSS-RBA, mitigating climate change through accelerating the green economy, and increasing national investment capacity through the Indonesia Investment Authority (INA).
"The economic performance that has been obtained cannot be separated from the solid cooperation between the government and all stakeholders in synergizing in controlling the pandemic and carrying out the National Economic Recovery Program (PEN)," he stressed.
Furthermore, Airlangga also revealed that various PEN programs, including the front-loading efforts launched by the government, succeeded in accelerating economic performance in the first quarter, both in terms of the business field and on the expenditure side.
“Through the provision of incentives for the business world, production activities are able to continue, which can be seen from the positive growth in the majority of business fields. In fact, a significant increase was experienced by the performance of international trade," he concluded.
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