Bank Indonesia: Economic Growth Remains Strong Supported By Domestic Demand

JAKARTA Bank Indonesia (BI) remains optimistic that the condition of the national economy can be maintained even though it is being faced with global weakening factors.

According to BI Governor Perry Warjiyo, one of the important parts of this attitude is private consumption which is estimated to be getting stronger along with the continued increase in community mobility.

"Indonesia's economic growth remains strong, supported by increased domestic demand and positive export performance," he told the media crew some time ago.

Perry explained that his party also saw a trend of increasing purchasing power in line with the decline in inflation.

"In addition, investment activities continue, especially non-development investments," he said.

Perry added that Indonesia's exports remained positive with high exports of non-oil and gas, supported, including coal exports, electric machinery, and motorized vehicles.

Based on destination countries, non-oil and gas exports to China, the US, and Japan are the main contributors. Meanwhile, according to the business field, the performance of the manufacturing, trade, and information and communication sector is expected to grow strongly.

Meanwhile, spatially increased consumption occurred in almost all regions and followed by export performance which remained high in the Sulawesi-Maluku-Papua (Sulampua) region.

"For these developments, economic growth in 2023 is estimated to be biased in the projected range of 4.5 percent to 5.3 percent," concluded BI Governor Perry Warjiyo.