Sri Mulyani And Bank Indonesia Governor Compact Second Quarter Economic Growth Can Be Above 5 Percent

Illustration (Photo: screenshot of the Ministry of Finance Youtube)

JAKARTA - The government through the Ministry of Finance together with Bank Indonesia (BI) is optimistic that the achievement of economic performance throughout the second quarter of 2022 will remain on a positive path.

Minister of Finance, Sri Mulyani, said that her party predicts the growth rate of gross domestic product (GDP) will be more than the 5 percent level.

"We estimate that economic growth in the second quarter will be above 5 percent", she said when giving a press statement after a meeting of the Financial System Stability Committee (KSSK) earlier this week.

According to the Minister of Finance, the national economy in the first half was dominated by investment activity and increasing export performance.

"The current account is projected to record a higher surplus than the surplus in the first quarter, mainly supported by an increase in the trade balance surplus, in line with the still high global commodity prices", she said.

Similarly, BI Governor Perry Warjiyo said that national economic developments would still be in a favorable position despite strong external pressures. This assumption is based on the level of private consumption (business world) which has continued to increase since the momentum of last Ramadan

"We estimate that growth for the second quarter can reach 5.05 percent", he said.

VOI noted that the Ministry of Finance targets economic growth throughout 2022 to be 4.8 percent to 5.2 percent. Meanwhile, the monetary authority of Bank Indonesia believes that growth can be within the level of 4.5 percent to 5.3 percent.

It should be noted that the high range of targeted economic growth is a separate indication of the current uncertainty.