Rabu, 17 April 2024|Jakarta, Indonesia

President Jokowi: Quick Economic Recovery Brings Indonesia to Higher Level

M. Amru

Rabu, 16 Agustus 2023 - 14:35 WIB

President Jokowi: Quick Economic Recovery Brings Indonesia to Higher Level
President Jokowi: Quick Economic Recovery Brings Indonesia to Higher Level

Thepresidentpost.id - Quick economic recovery from the COVID-19 pandemic has successfully brought Indonesia to a higher level, making it become an upper-middle income country in 2022, President Joko “Jokowi” Widodo has said.

The President made the statement in the presentation of the Government statement on the Bill on the State Budget for the 2024 Fiscal Year and Its Financial Note before the Plenary Session of the House of Representatives (DPR) at the Nusantara Building of the Parliamentary Complex in Jakarta, Wednesday (08/16).

According to the President, Indonesia is one of the countries with swift and consistent economic recovery, with economic growth during the last seven quarters since the end of 2021 remaining above 5.0 percent.

“Indonesia’s economy continues to recover. In the first semester of 2023, the national economy grew by 5.1 percent. Indonesia’s inflation also continues to remain under control, reaching 3.1 percent as of July 2023,” he said, adding that the rate of unemployment successfully decreased from 6.26 percent in February 2021 to 5.45 percent in February 2023.

The President also pointed out that the rate of poverty also continued to decline to 9.36 percent in March 2023, with extreme poverty falling from 2.04 percent in March 2022 to 1.12 in March 2023.

Furthermore, the President stated that Indonesia’s fiscal policy is one of the most effective in handling the pandemic and maintaining economic growth, adding that its debt ratio to the Gross Domestic Product (GDP) is also lower than some countries such as Malaysia’s at 66.3 percent, China’s at 77.1 percent, and India’s at 83.1 percent.

“Indonesian fiscal deficit has returned to below 3 percent of the GDP, one year earlier than the initial plan. Indonesian’s debt ratio is also one of the lowest among G20 and ASEAN countries. In fact, it has decreased from 40.7 percent of the GDP in 2021 to 37.8 percent as of July 2023,” President said.

On that occasion, the President also underscored the importance of accurate strategies and policies to face the rapidly changing global landscape, especially because of geopolitical shifts, which creates supply chain disruption, escalating the risk of food, source and world financial crises.

“This global constellation must be responded with policy strategies that are accurate and anticipative. Economic and fiscal policies must be able to transform the economy to face present and future challenges. On the one hand, food and energy security as well as manufacturing transformation become essential. On the other hand, defense industry must be built competitively to meet the needs for Indonesia’s defense and security sector,” he said. The President added that the world also deals with potential crises due to climate change, thus transition to green energy use must be carried out progressively while remaining just and affordable.

“The potential of Indonesia’s biological economic value must be used as an importance factor to develop and increase investment of green economic at home,” he said.

Moreover, the President stated that the development of digitalization and artificial intelligence is estimated to dominate the global economy, including Indonesia.

“This disruption must be faced with a viable strategy. The development of human capital quality, physical and non-physical infrastructure related to information technology must continue to be improved. The structure of young population thanks to demographic bonus must be utilized to the best possible extent,” he said.

The President further said that economic transformation must continue to be carried out in order to increase investment attractiveness and create massive decent employment while urging Indonesia’s participation in the global supply chain, especially in high-tech and environmentally friendly sectors.

“The improvement of human resources quality is the main factor in economic transformation. The development of human resources that are healthy, productive, and innovative that guarantees inclusivity and justice continues to be carried out. Therefore, the efforts to eradicate extremely poverty and stunting, and to develop remote areas must be successful,” he remarked. (SS/DH)



Berita Lainnya

Business 28/02/2024 13:01 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Economy 21/02/2024 08:38 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE.

Sport 21/02/2024 08:20 WIB

Receives Chairman of Jababeka (KIJA), Menpora Dito Ready to Support the Development of Sports SEZs

Chairman of PT Jababeka Tbk (KIJA), Setyono Djuandi Darmono met the Minister of Youth and Sports of the Republic of Indonesia (Menpora RI) Dito Ariotedjo at the Kemenpora RI Office, Senayan, Jakarta,…

Business 21/02/2024 08:16 WIB

Jababeka (KIJA) Targets Marketing Sales of IDR 2.5 Trillion in 2024

PT Jababeka Tbk (KIJA) is targeting pre-sales revenue or marketing sales of IDR 2.5 trillion in 2024. According to the information disclosure of the Indonesia Stock Exchange on Tuesday (13/2), IDR 1,150…

World 19/02/2024 17:38 WIB

The Indonesian Embassy in Cairo Receives Aid for Palestine

Cairo, Egypt - The Indonesian Embassy in Cairo welcomes the Radjiman Wedyodiningrat Warship (RJW-992) which arrived at the Al Arish Port, North Sinai Province of Egypt at 8.00 A.M. Cairo local time (13/02).…