Great Indonesia! This Is Proof That The Economy Continues To Recover Amid The Threat Of A Russian War

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani emphasized that Indonesia has shown a consistent economic recovery which tends to strengthen at the beginning of this year. According to the Minister of Finance, this assumption can be seen from a number of important factors.

First, consumption is relatively stronger in line with the easing of the spread of the omicron variant and public optimism is maintained.

"Second is the investment sector which continues to strengthen, mainly supported by private investment where there is an increase in cement consumption, imports of capital goods and machine tools that support productive activities in the country," he said when giving a presentation on the realization of the state budget, quoted Friday, April 22.

Third, exports continued their high growth trend. At the same time, imports of productive raw materials are very strong, with details of imports of raw materials at 31.5 percent and capital goods at 30.1 percent in March 2022.

"These various indicators illustrate that Indonesia's economic activity continues to show a fairly strong recovery," he said.

However, the Minister of Finance realizes that the government continues to be aware of external pressures, especially those affected by the war situation in Eastern Europe.

"High global commodity prices, geopolitical uncertainty, and the normalization of the Fed's monetary policy are important factors of concern," he said.

For information, this year the government is targeting an economic growth rate of 4.8 percent to 5.5 percent. This level is still quite relevant to the projections of various global credible institutions, such as the IMF which estimates 5.4 percent, the World Bank 5.1 percent, and Bloomberg with 5.2 percent.

The state treasurer himself promised to continue to optimize fiscal instruments as important tools in the recovery of the national economy.

"The APBN policy strategy is still anticipatory and responsive while encouraging the private sector to contribute even more to strengthening the economy," closed the Minister of Finance Sri Mulyani.