Economy Grows 5.3 Percent, Evidence Of Airlangga's Success In Coordinating Government's Economic Team

Coordinating Minister for the Economy Airlangga Hartarto (right) gave a press statement at the Jakarta Presidential Palace (Photo: Doc. Coordinating Ministry for the Economy)

JAKARTA – Serving as Coordinating Minister for the Economy requires Airlangga Hartarto to have skills in organizing the work of the government's economic team. It seems that this strategic role has been successfully carried out by Airlangga throughout his service to the country in the last decade.

This assumption is clearly visible in the achievement of Indonesia's 2022 economic growth perched at the level of 5.31 percent. The incision can be said to be special if you examine it in two ways.

First, the situation of high global uncertainty last year has made the growth space for each country smaller, even vanishing amidst the threat of a recession.

Second, the yield of 5.31 percent is even higher than the government's assumption so far, which is aiming at a target of 4.5 percent to 5.3 percent.

On this basis, an economist from the University of Indonesia (UI) Fithra Faisal said that the performance of the government's economic team should be appreciated.

"Obviously, because of this we can see the effectiveness of the government when dealing with difficult times and now it has managed to come out with positive growth," he said as quoted Tuesday, February 7.

According to Fithra, another indication of success is reflected in efforts to improve the state budget which is faster than the previous plan.

"The 2022 State Budget deficit is already below 3 percent of gross domestic product (GDP). This means it is faster than the initial target of 2023 as stipulated in Law Number 2 of 2020," he said.

Even so, Fithra reminded the government not to become complacent because it is believed that the 2023 turmoil will be stronger than in previous years. There are several things that can be the focus, including global supply chain disruptions, inflation which is still at the high level, the trend of rising interest rates, to geopolitical factors.

“We must remain optimistic but always vigilant. Those are two keywords in dealing with economic uncertainty this year", he stressed.