Even Though It Is Estimated That It Will Go Down, BI Is Sure That The 2023 Domestic Economy Will Continue To Grow Positively

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Governor of Bank Indonesia (BI) Perry Warjiyo said that national economic growth will still be good and be on a positive track. He conveyed this optimism based on domestic demand that still has endurance.

"This is supported by people's purchasing power and the confidence of economic actors that are maintained," he said during a press conference after the Board of Governors' Meeting (RDG) on Thursday, December 22.

Perry explained, this assumption is also reflected in various indicators for the November 2022 period and the results of the last Bank Indonesia survey, such as consumer confidence, retail sales, and Manufacturing Purchasing Managers' Index (PMI).

Meanwhile, in terms of export performance, it is estimated that it will remain strong, especially driven by coal exports, CPOs, iron and steel, as well as service exports, in line with the demand for several key trading partners who are still strong and the positive impact of policies taken by the government.

Spatially, continued Perry, the positive performance of exports was supported, mainly driven by Kalimantan, Sumatra, and Sulawesi-Maluku-Papua (Sulampua) which continued to grow strongly.

"Economic growth remains good in line with developments in terms of business fields where the trade sector is large and retail, the processing industry, and transportation and warehousing are growing quite strongly," he said.

For these developments, the central bank believes that economic growth in 2022 is estimated to remain biased upward in the projected range of 4.5 percent to 5.3 percent.

"In 2023, economic growth is expected to remain strong even though it has slowed slightly in line with the slowdown in the global economy to a midpoint of around 4.5 percent to 5.3 percent," concluded BI Governor Perry Warjiyo.