Airlangga Says Indonesia Is A Bright Spot Amid Global Uncertainty

Coordinating Minister Airlangga Hartarto (Photo: Aris Nurjani/VOI)

Coordinating Minister for Economic Affairs Airlangga Hartarto said that the International Monetary Fund (IMF) views Indonesia as a bright spot or bright spot amidst global conditions full of uncertainty.

According to him, this is based on the solid performance of the national economy, with average growth above 5 percent over the last seven years.

"Indonesia is growing 35 percent and Indonesia is still able to sail in uncertain situations," he said at the Prabowo-Gibran Government 1 Year event, Thursday, October 16.

According to Airlangga, this shows Indonesia's resilience in dealing with uncertain global situations.

He added that the positive assessment also gave confidence to the international community in the Indonesian economy.

Airlangga added that this is reflected in Indonesia's debt rating (sovereign rating) which remains at the level of investment grade with a stable outlook from international rating institutions such as Fitch Ratings and Standard & Poor (S&P).

He added that apart from economic growth, sovereign ratings and other macroeconomic indicators also showed good performance.

"This economic growth is also followed by various things, namely inflation is maintained at 2.65 percent. This is a low inflation compared to other countries," he said.

In addition, he added that National foreign exchange reserves were in the range of 150 billion US dollars, despite experiencing reasonable fluctuations.

"Our foreign exchange reserves are around 150 billion US dollars, fluctuations of course, but of course we show that economically, fundamentally, Indonesia's policy continues to maintain, we also maintain the deficit rate, budget deficit at 3 percent and debt below 40 percent, among various countries in the G20," he continued.

Airlangga added that several major countries such as the United States and Japan have debt ratios that have exceeded 100 percent of GDP.