Minister Of Finance Sri Mulyani: Indonesia's Economic Growth In The Second Quarter Of 2022 Is Making Me Proud

Minister of Finance Sri Mulyani. (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani Indrawati revealed that Indonesia's economic growth in the second quarter of 2022 of 5.44 percent year-on-year (yoy) is a very good and proud thing.

"How are you at the end of this weekend? I hope for good news, such as the economic news of Indonesia's economic growth in Q2 2022 which increased sharply to 5.44 percent (yoy). Very good and proud," said Sri in her official Instagram account @smindrawati, quoted Monday, August 8.

Based on the announcement from the Central Statistics Agency (BPS) on Friday, August 5, the Indonesian economy has proven to be resilient in the face of the current global multi-crisis turmoil. The realization of growth in the second quarter of 2022 is higher than the projections of all market analysts, including the Ministry of Finance's most optimistic projection of 5.2 percent yoy.

Strengthening household consumption became the source of the highest growth, which was 5.51 percent (yoy) or contributed 2.92 percent to growth, followed by exports which grew 19.74 percent (yoy) or contributed 2.14 percent to the realization of growth.

"Increased public consumption activity during the period of Ramadan and Eid al-Fitr is a key factor driving growth in the second quarter of 2022. In the midst of the dynamics of the global economy, Indonesia's exports are also still growing high," said Sri.

In terms of business fields, the manufacturing industry, which is the main contributor to national GDP, was able to grow 4.01 percent and contributed the most to growth, which was 0.82 percent.

The tourism support sector, such as the transportation and warehousing sector as well as accommodation and food and drink, also grew significantly, which was significantly affected by the COVID-19 pandemic in 2020 and 2021.