Indonesia’s Economy Speeds Up Again After the Pandemic, Sri Mulyani: 2022 Grows 5.3%

Minister of Finance Sri Mulyani Indrawati stated that Indonesia’s economy is stepping on the gas again in 2022. According to her, economic recovery will occur very quickly in 2022 after two years of the COVID-19 pandemic raging throughout the country. Indonesia’s economic growth is experiencing acceleration momentum around the third quarter of 2022. He is confident that economic growth for the full year 2022 which will be announced later this month will be at the level of 5.2-5.3%. All economic indicators grew very well, starting from investment flows, increased commodity exports, to imports to support manufacturing industry production.
“Economic growth has recovered supported by strong momentum in the third quarter, fourth quarter will still be 5%, so that total economic growth in 2022 as stated by the President will be at 5.2-5.3%,” said Sri Mulyani in a virtual press statement after held a plenary meeting on the 2023 state budget, Monday (16/1/2023).
Several business sectors that had plummeted during the pandemic are now stepping on the gas for growth. For example, the transportation sector, which had contracted by up to 15%, has now returned to grow by 21%. There is also the accommodation and food and beverage sector which had contracted by up to 10%, now it has grown at the level of 11.3%.
Regionally all islands and regions in Indonesia, according to Sri Mulyani, have experienced rapid economic recovery in 2022. Sumatra grew 4.71%, Kalimantan grew 5.67%, Sulawesi grew 8.24%, Maluku grew 7.51%, Java grew 5.76%, and Bali and Nusa Tenggara 6.69%. It is this kind of thing that boosts the Indonesian economy to grow rapidly. In fact, Sri Mulyani said that Indonesia’s economy had grown bigger than before the pandemic.
“This is why Indonesia’s GDP level is 6.6% above pre-pandemic, above our achievements in 2019. This is a very good achievement,” said Sri Mulyani.

January 16, 2023, detikFinance