Coordinating Minister Airlangga Calls 5.01 Percent Economic Growth Due To The Blessings Of Ramadan

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto said that Indonesia's economic performance in the first quarter of 2022 was quite encouraging with a record growth of 5.01 percent year on year (yoy).

According to him, one of the levers is the momentum of Ramadan, which also boosted the spending index. In fact, Airlangga compared RI's scores which were much better than the average global economic growth which was only in the range of 3.6 to 4.5 percent.

"So, Indonesia's growth is above the average global economic growth. Many factors affect it, but one of them is Ramadan this year," he said in an official statement on Monday, May 9.

Airlangga explained that the spending index during Ramadan 2022 increased by about 31 percent compared to last year's Ramadan and this condition occurred in almost all parts of Indonesia.

"If we look at the overall number of frequencies and expenditures, the index is 179.4, while in terms of value it is 159.9," he said.

Furthermore, he also mentioned the inflation level of 3.47 yoy last month. He said the figure was still within the estimated range in the 2022 state budget, which was 3 percent plus minus 1 percent.

"Based on data in the field, almost all sectors are on average positive, namely from warehousing, the agricultural service industry, construction," he continued.

On the demand side, household consumption grew positively, investment and export-import also experienced the same thing.

Meanwhile, regarding the performance of handling COVID-19 and national economic recovery, the realization was recorded at 15.4 percent or Rp. 70.37 trillion. In detail, the health sector is 9.7 percent or Rp11.87 trillion, namely, for health workers incentives and patient claims.

Then, for the protection of the community, the realization has reached IDR 49.27 trillion or 32 percent. The records consist of PKH, cooking oil BLT, Village Fund BLT, assistance for street vendors, stalls, and fishermen, as well as pre-employment cards.

"The strengthening of economic recovery is around 5.2 percent or Rp. 9.2 trillion, both in the tourism sector, support for MSMEs," Airlangga concluded.