Top! Indonesia's Economy Grows 5.17 Percent In The Second Quarter/2023

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The Central Statistics Agency (BPS) reported that in the second quarter/2023 the amount of gross domestic product (GDP) at current prices (ADHB) was IDR 5,226.7 trillion. Meanwhile, on the basis of constant price (ADHK) it was IDR 3,075.7 trillion.

Deputy for Balance and Statistics Analysis of BPS Moh. Edy Mahmud said this made economic growth in the second quarter compared to the first quarter of 2023 (quarter to quarter/qtq) grow 3.86 percent.

"Then when compared to the second quarter/2022 (year on year/yoy), Indonesia's economy grew by 5.17 percent," he said at a press conference today, Monday, August 7.

According to Edy, the score is considered very good amidst continued global uncertainty and the downward trend in the economy of developed countries.

"In addition, there has also been a decrease in exports of superior commodities. However, the Indonesian economy can still show solid performance," he said.

Edy detailed that economic growth on a qtq basis increased by 3.86 percent in line with the previous year's patterns, namely the momentum of religious holidays (Idul Fitri).

"The growth of 5.17 percent year on year (yoy) in the second quarter of 2023 consistently continues its record economic growth above 5 percent since the fourth quarter of 2021," he said.

The BPS on the occasion informed that, based on IMF data, the global economy this year is believed to only grow 3 percent. Meanwhile, growth in developed countries is more sloping than 1.5 percent.

"Economic growth in developing countries, including Indonesia, is estimated to be much higher than the growth of developed and global countries, which is 4.0 percent," said Edy.