Claim that the Indonesian Economic Minister is still expanding, far from the crisis

Minister of Finance Purbaya Yudhi Sadewa/DOCUMENTATION BETWEEN

JAKARTA - Minister of Finance (Menkeu) Purbaya Yudhi Sadewa claims that the current Indonesian economic condition is still in the expansion phase and far from a crisis, even though it is facing global pressure.

According to him, people's purchasing power remains strong, which is reflected in the high consumption activity during the Lebaran period.

"Who said there was a crisis? It was just Eid yesterday, right? Everywhere was jammed, everywhere was shopping. That means there is purchasing power and if we look at the existing indicators, (the economy) we are indeed moving faster," said Purbaya, Friday, March 27, reported by ANTARA.

Purbaya explained that a number of economic indicators showed a growth trend that was still maintained. This is reflected in consumer surveys, the Manufacturing PMI index, and an increase in vehicle sales.

"I see from consumer surveys, PMI surveys, car purchase surveys, motorcycles. They say it's all going up, right? If it doesn't go up, I can't say (the economy) is going up," he said.

In addition, Purbaya ensured that it could mitigate the impact of rising world oil prices through appropriate State Budget (APBN) policies, so that external pressure did not directly burden the community.

The State Treasurer also said that Indonesia's economic outlook in the future still shows an expansion trend in the coming years.

"So we are far from a crisis, we are even expanding. If the crystal ball I said, the leading economic index is not wrong until later in 2029-2030 we continue to expand," he said.

In fact, he said, a number of economists outside the government predict that economic growth could reach 5.7 percent. This projection is supported by various indicators that show an increase in economic activity.

"I asked people outside the government, what is your prediction? 5.7 percent can, he said. In my opinion, above 5.5 percent is good in the current condition," he added.

To support this achievement, the government continues to maintain liquidity in the economic system, ensuring that state spending is realized on time, and improving the business climate to encourage economic activity.

With the combination of fiscal and monetary policies in place, the Minister of Finance believes that Indonesia's economy is not heading for a recession, but remains on a growth track.

"So it's almost certain that we are not heading for a recession, let alone a crisis," he said.