JAKARTA - Minister of Finance (Menkeu) Sri Mulyani is optimistic that Indonesia's economy in the first quarter of 2023 will grow by 5 percent compared to the same period last year (year-on-year/yoy).
This estimate is in line with the strong consumption of the community, although there is a high level of awareness of export growth performance.
"However, if exports and imports are corrected, usually the export net number will still be quite good," Sri Mulyani said in a press conference for the March 2023 edition of the KiTa State Budget, quoted from Antara, Wednesday, March 15.
Overall, he also projects that the domestic economy will still grow in the range of 5 percent (yoy) to 5.3 percent (yoy) this year.
The high optimism of economic growth this year is in line with the possibility of soaring consumption on Eid where there are no more restrictions on activities.
Consumption during holidays, according to Sri Mulyani, will also be boosted thanks to the upcoming holiday allowance (THR) so that it is expected to have a positive impact on the country's economic growth.
On the same occasion, Deputy Minister of Finance (Wamenkeu) Suahasil Nazara said that optimism for growth in the first quarter of this year was in line with various strengthening, such as the rise of tourists, increasing economic activity, to the strong acceptance of value added tax (VAT).
"VAT related to imports has indeed weakened, but our Manufacturing Purchasing Managers' Index (PMI) is also still expanding," said Suahasil.
In addition, he continued, several main economic indicators such as motor vehicle sales and consumer confidence index are in an increasing trend.
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