Eid 2023 Moment After, Celios Observer Says This About Economic Turnover In Indonesia

Illustration. (Photo: Doc. Antara)

JAKARTA - The business world had estimated that the circulation of money during the Eid al-Fitr 2023 or Eid al-Fitr 1444 Hijriah holiday would reach Rp92.3 trillion. The circulation of money is expected to drive the regional economy and increase productivity in various business sectors.

This is calculated from the number of travelers who reached 123.8 million people or equivalent to 30,752,000 families.

Responding to this, the Executive Director of the Center of Economic and Law Studies (CELIOS) Bhima Yudhistira said that post-Way economic turnover tends to enter the normalization phase, although household consumption grows slower.

"This is natural, because the post-Eid season does not encourage spending," said Bhima when contacted by VOI, Thursday, April 27.

Bhima said, the moment of Christmas and New Year (Nataru) which could produce economic movement was higher than Eid.

"(Higher economic movement) will only be in December, there will be Christmas and New Year," he said.

To get to that moment, said Bhima, the government needs to take a number of steps, one of which is by maintaining the level of public spending.

"Now, to maintain the level of public spending, the government needs to suppress inflation more, especially food. There is a fairly serious threat of El-Nino and leads to a slowdown in the production of the agricultural and fisheries sectors," said Bhima.

"If inflation and the impact of el nino can be mitigated, at least consumption can grow 4.5-4.8 percent in the third quarter of 2023," he concluded.