The Indonesian Economy Continues To Strengthen Amid Global Gloom, Sri Mulyani: We Keep The Momentum And Stay Alert

Illustration (Photo: Doc. Antara)

JAKARTA – The Indonesian economy continues to show a strong recovery with various positive notes until the close of the first half of 2022. One indicator of this success can be seen from the achievement of a trade balance surplus of 24.8 billion US dollars during the first semester of last year.

From the fiscal side, the government has succeeded in posting a APBN surplus of IDR 106.1 trillion or 0.57 percent of gross domestic product (GDP) at the end of July 2022.

However, Minister of Finance Sri Mulyani said that the government was still monitoring global conditions which were engulfed in continuing uncertainty due to geopolitical conflicts, increasing risk of stagflation, and financial market volatility.

"This is a risk factor that we must be aware of while maintaining the momentum for national economic recovery," he said in a press statement quoted on Sunday, August 14.

According to the Minister of Finance, Indonesia has experienced a strengthening economy driven by increased public consumption, investment and export performance

"We will continue to monitor these situations. Of course, every post in the APBN will also be managed very carefully, so that national goals are maintained, namely economic recovery, creating more job opportunities, then reducing poverty and healthy economic growth, which is then accompanied by price stability. " he said.

The Minister of Finance added that the State Budget will be maintained as a shock absorber and support for fiscal consolidation in 2023 and will return to a deficit policy of below 3 percent of GDP.

"The government is working hard so that the health of the state budget can be achieved and will be a factor to create positive sentiment, so that the economic recovery will also continue even though world conditions are not good," he said.

"So, with the existence of a relatively strong and healthy APBN, it provides confidence, confidence and also positive sentiment, which is expected to be positive," closed the Minister of Finance Sri Mulyani.