Moncer's Early Year Results, Government Cares For Bias Economic Growth And Above

Illustration (Photo: Freepic)

JAKARTA - The government through the Minister of Finance (Menkeu) Sri Mulyani said that the current national economic condition remains strong. He said Indonesia's economic growth in the first quarter of 2023 was recorded at 5.03 percent year on year (yoy).

He said that figure increased slightly compared to growth in the previous quarter at the level of 5.01 percent.

According to the Minister of Finance, the strong economic growth is still supported by exports that continue to grow high, improving private consumption, positive government consumption, and growing non-construction investment which remains good.

"In the future, economic growth is expected to remain strong," he said earlier this week.

The Minister of Finance explained that this forecast is supported by private consumption which is estimated to be getting better along with increased mobility, improving consumer confidence, and strengthening purchasing power as a result of the decline in inflation.

"Investment continues to be supported by strong non-development investment in line with improvements in domestic consumption and the impact of downstreaming," he said.

The state treasurer added that export performance remained strong driven by high-growing non-oil and gas exports with major destination countries for China, the US and Japan.

"With these various developments, economic growth in 2023 is estimated to be biased in the projected range of 4.5 percent to 5.3 percent," he concluded