Observers For The Prediction Of Economic Growth In 2023 Capai 4.7 Percent

Economic Growth (Photo: Pexels)

JAKARTA - Economist and Director of the Center of Economic and Law Studies (Celios) Bhima Yudhistira projected economic growth in 2023 to reach 4.3 to 4.7 percent. Meanwhile, inflation is also estimated to be in the range of 5 to 5.5 percent.

"The factor in the global recession has an impact on export and investment performance," Bhima told VOI, Saturday, December 31.

He continued, household consumption is still the main support for economic growth, but the government is still wary of inflationary pressures and interest rates that have an impact on the purchasing power of the lower middle class.

Meanwhile, the top 20 percent of the political year tends to be responded to by the top 20 percent group by waiting and seeing or containing risky investment decisions. On the other hand, the development of geopolitical conflicts between Russia and Ukraine as well as the security of domestic food stocks has become a game changer of price stability.

In terms of exchange rates, Bhima projects that the rupiah will be in the range of 15,800 to 16,100 per US dollar.

"The pressure due to tightening monetary policy for developed countries still creates risks to the rupiah. Moderation of commodity prices will also suppress the strengthening of the rupiah because the trade surplus is shrinking," he explained.

The sectors that are expected to grow positively include food and beverages because they are basic needs. The tourism sector, including hotels, restaurants, cafes, and transportation, will also be the prima donna in 2023 due to the policy of lifting the implementation of restrictions on community activities (PPKM) by the President on Friday, December 30.

Ahead of the General Election in 2024, Bhima said that sectors related to elections such as printing, advertising services, venues and people's entertainment such as concerts are also expected to experience growth in 2023.

"Telecommunications services, steel and furniture industries will also improve in line with China's post-Covid-19 economic opening," concluded Bhima.