Wow! The Prediction Of Sri Mulyani And The Governor Of Bank Indonesia Was Proven Today, What's The Problem?

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) today, Friday, August 5, has officially announced Indonesia's economic growth rate in the second quarter of 2022 at 5.44 percent on an annual basis (year on year).

This score is much higher when compared to the achievement of the first quarter of 2022, which at that time was at the level of 5.01 percent YoY.

These results have consistently increased since the beginning of the year and become positive capital in navigating the second half until next December.

Keep in mind that several factors make the book in the second quarter so special.

First, the economic growth baseline is actually at a fairly high level if you look at the results of the second quarter of 2021, which at that time grew 7.07 percent YoY.

Second, the brilliant results that have just been achieved are evidence of Indonesia's well-maintained economic resilience.

This is because the situation of uncertainty that continues in the midst of soaring inflation and rising food prices has created greater pressure than before.

"The government is observant enough to control inflation through subsidies while at the same time maintaining the momentum of economic growth", said BPS Head, Margo Yuwono, in a virtual press conference from his office in Jakarta.

But do you know that the smooth economic performance has actually been predicted by the Minister of Finance, Sri Mulyani, and the Governor of Bank Indonesia (BI) some time ago?

In the previous VOI report, the Minister of Finance stated that the government was optimistic that the rate of gross domestic product (GDP) could exceed the 5 percent YoY level.

"We estimate economic growth in the second quarter will be above 5 percent", she said earlier this week.

Similarly, the Governor of Bank Indonesia voiced the same thing. The difference is, that the BI boss is more detailed about the estimated number of figures that can be achieved.

"We estimate that the growth for the second quarter can reach 5.05 percent", she said.

Sure enough, the fiscal and monetary leadership forecasts came true today and were even higher than projected.

For information, the government through the Ministry of Finance targets economic growth this year to be in the range of 4.8 percent to 5.2 percent. Meanwhile, the central bank is aiming for a growth rate of 4.5 percent to 5.3 percent.

For the record, the high range of economic growth that is the target is a separate indication of the ongoing uncertainty.