Coordinating Ministry For The Economy: Indonesia's Economic Growth Is Better Than Other Big Countries

Rupiah (Photo: Antara)

The Coordinating Ministry for Economic Affairs has opened its voice regarding the International Monetary Fund (IMF) report which reduces the projection of Indonesia's economic growth.

Meanwhile, the International Monetary Fund (IMF) in the April 2025 edition of the World Economic Outlook report cut Indonesia's economic growth projection from 5.1 percent to 4.7 percent.

Secretary of the Coordinating Ministry for Economic Affairs, Susiwijono Moegiarso, said that when compared to globally, the Indonesian economy still shows relatively good performance.

"That's not the outlook for imf and we are still much better. That's a decrease of only 0.4 percentage points even though the US and China are expected to decline by 0.9 and the global economic outlook is from 3.2 (percent)-3.3 (percent) only 2.8 (percent). So when compared to the outlook for the decline in the economy of big countries and our world is still considered optimistic about our economy," he explained to the media crew, Tuesday, April 29.

Regarding Indonesia's economic growth target of 5.2 percent, Susiwijono said that developments are still ongoing, although currently there are dynamics in the United States that also affect the national or global economy.

"This development is still ongoing, like the dynamics in the US, we are still in negotiations for 60 days and we are relatively the first country to be accepted, even the technical team has sat down with us, right? other countries have not," he explained.

He explained that the government's mainstay factor in encouraging the economy is that it comes from a strong domestic market, public consumption and households have a large portion of Indonesia's Gross Domestic Product (GDP).

In addition, Susiwijono said that Indonesia's economic dependence on the global economy is relatively lower than that of other countries, so that the national economy tends to be more resistant to global pressure.

"If we look at the GDP structure, we are different from other countries, depending on the global economy, global dynamics is not as high as other countries, our domestic market is strong, public consumption is high, we share it with GDP so it is relatively more resilient than other countries' economy should be," he explained.

He is optimistic that Indonesia's economic growth in the first quarter of 2025 will be quite good. "For the first quarter, hopefully it will still be quite good," he explained.