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Indonesia Emerged Stronger than most in the post-Pandemic Recovery: Jokowi

Speaker Joko Widodo bows to members of the House of Representatives at the Jakarta Legislative Complex before delivering his annual address, Wednesday, August 16, 2023

klikFakta.com, Nasional – President Joko “Jokowi” Widodo on Wednesday said Indonesia is recovering from the Covid-19 pandemic stronger than most countries in the world as he revealed more upbeat macroeconomic forecasts for next year. .
In his annual address to the House of Representatives, Jokowi said the pandemic has claimed the lives of 6.9 million people worldwide and caused a staggering $2 trillion in damage to the global economy since the beginning. 2020.

“Indonesia is one of the few countries with a rapid, consistent and comprehensive economic recovery. Over the past seven quarters from the end of 2021, our economic growth has consistently surpassed the 5% mark,” he said. Mr. Jokowi said.
Furthermore, he pointed out that the unemployment rate fell from 6.26% in February 2021 to 5.45% in February 2023. At the same time, the poverty rate fell from a peak of 10.19% in September 2021 to 9.36% in March 2023.

“A strong and rapid economic revival has put Indonesia in the ranks of upper middle-income countries by 2022,” he added.
Based on this positive trajectory, this year has maintained its momentum, recording a manageable inflation of 3.1% in July, while the budget deficit remained below 3% of the total. domestic product.

“Indonesia has one of the lowest debt-to-GDP ratios among the G20 and ASEAN countries. This rate drops from 40.7% in 2021 to 37.8% in July 2023. For comparison, Malaysia’s debt-to-GDP ratio is 66.3%, China’s is 77.1% and India’s is 83.1%,” Jokowi said.
For 2024, the government has forecast 5.2% growth in the economy, combined with an inflation target rate of 2.8%.

The expected average exchange rate for the rupee is 15,000 rupees per dollar. Indonesia’s oil production is expected to reach 625,000 bpd, priced at $80 per barrel on the world market.

The state budget for next year has been formulated with a deficit of Rs 522.8 trillion, which comes from an expected income of Rs 2,781.3 trillion.

Redaksi/sumber: jakartaglobe.id


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