Jokowi's Last State Speech Is Considered To Explain Indonesia's Economic Resilience

President Jokowi (Photo: Screenshot of Youtube)

JAKARTA - President Joko Widodo's State Speech (Jokowi) is considered to explain the resilience of the Indonesian economy.

"In a state speech, President Jokowi explained the achievements and projections of Indonesia's economic growth which show resilience and optimism," said Jember University economic observer Adhitya Wardhono, PhD quoting Antara.

He said the government projects economic growth of 5.2 percent for 2025. This target, although ambitious, is still considered realistic given the previous growth trend.

The government is committed to maintaining people's purchasing power through inflation control, job creation, and support for social assistance and subsidies programs.

"What needs to be noted is that our consumer confidence index is actually relatively low in this year, which shows consumer distrust of the latest economy," he said.

According to him, the government remains vigilant against the dynamics of the global economy, although its main focus is on strengthening domestic demand, which is reflected in the macroeconomic assumptions used.

In addition, it also includes projected Rupiah exchange rates of around Rp. 16,100 per US dollar and inflation maintained at around 2.5 percent.

"The growth target will depend heavily on the effectiveness of the government's policy implementation and ability to navigate global uncertainty. The government is not alone, it needs to be collaborative with the Central Bank in holding monetary amounts such as inflation and also the exchange rate," said the economist.

Adhitya said President Jokowi's economic growth strategy showed a comprehensive and realistic approach.

The combination of strengthening domestic demand, increasing the added value of export products, and maintaining macroeconomic stability is expected to be a strong foundation for Indonesia's sustainable economic growth.

"However, challenges remain, and the success of this strategy will depend heavily on the consistency of policy implementation and the ability to quickly adapt to changes in global conditions," he said.

Overall, he continued, the monetary and fiscal policy strategy presented shows the government's optimism.

However, careful and adaptive implementation of global economic dynamics will be the key to success in achieving the targets that have been set.