Indonesia Posts Highest Economic Growth among G20 Members, Says Jokowi

JAKARTA, KOMPAS.com - President Joko “Jokowi” Widodo said that Indonesia recorded the highest economic growth among countries and regions of the G20 forum members, thereby indicative of the nation’s continued recovery.

“If I were asked to estimate, the second quarter could grow 5.44 percent (YoY). When looking at other G20 countries that grew above five percent, we are the highest among the G20,” Jokowi said in his speech during the 2023 economic presentation on Thursday, Sept. 29.

With this achievement, the head of state called on all parties to be optimistic about the promising trend of Indonesia’s economic recovery. Despite the country facing uneasy global challenges, he insisted that there would be a way to overcome every problem.

“What we are facing is not easy, but we must remain optimistic,” State News Antara quoted Jokowi.

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He said that currently, the global economic conditions were difficult. Developed countries also face economic challenges, such as food security problems, energy crises, and financial turmoil.

However, Indonesia is still able to maintain its ongoing economic recovery. The recovery trend in Indonesia is still relatively strong, he said.

He highlighted several indicators of Indonesia’s economic recovery in the form of state revenue that had grown by 49 percent, or 1.764 trillion rupiahs, and tax revenue that had increased to 58 percent, or 1.171 trillion rupiahs.

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“Customs and excise revenues also grew to 30.5 percent, or 206 trillion rupiahs, followed by the realization of Non-Tax State Revenue (PNBP) amounting to 386 trillion rupiahs, or grew 38.9 percent,” he said.

Besides, consumer optimism is also high, as the Consumer Confidence Index (IKK) was recorded at 124.7. Bank credit has also grown to 10.7 percent, with Indonesia’s trade balance posted a surplus for 28 consecutive months, amounting to $5.7 billion.

“This is a very big number, this is a surplus. Our manufacturing Prompt Manufacturing Index (PMI) is 51.7 above global,” he added.

Source: State News Antara