Jakarta, Detik Finance – Indonesia's economy remains resilient and the outlook is good amid economic turmoil and a recession looming next year. According to forecasts by Bank Indonesia (BI), Indonesia's economic growth in 2023 will range from 4.5% to 5.3%.
BI said growth will continue through 2024 in the range of 4.7% to 5.5%. This was supported by positive growth in private consumption, investment, and export performance.
"Bank Indonesia estimates that Indonesia's economic growth will remain strong in the range of 4.5-5.3% in 2023 and further increase to 4.7-5.5% in 2024," BI am's official website said. cites Wednesday (30 November 2022).
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Meanwhile, consumer price index (CPI) inflation is expected to moderate, returning to targets of 3.0±1% in 2023 and 2.5±1% in 2024, with core inflation rebounding in the first half of this year. It is expected that 2023.
This was in line with controlled import price inflation (import inflation) due to a stable rupiah exchange rate and monetary policy response. Inter-agency coordination has also helped keep inflation in check.
On the occasion, President Joko Widodo (Jokowi) advised remaining vigilant given the still uncertain and unpredictable global situation.
“In 2023, we need to be very vigilant and vigilant without reducing our optimism,” said President Joko Widodo.
BI calls for the need to continually strengthen fiscal and monetary synergies when formulating policies so that the resulting national economic policies will greatly benefit the people and the nation.
Meanwhile, Bank Indonesia Governor Perry Warjiyo emphasized that synergies and innovation are key to weathering global turmoil. Optimism about an economic recovery needs to be heightened, while keeping an eye on widespread uncertainties around the world, including the risks of stagflation (economic slowdown and high inflation) and reflation (recession and high inflation).
This is because if political and economic divisions continue, global economic growth and growth rates in each country may be adjusted, and there is a risk that it will take time to tighten monetary policy to curb inflation in each country. Because there is
External stability is maintained and the current account is projected to have a surplus of 0.4% of GDP and a deficit of 0.4% in 2023 and a surplus of 0.2% and a deficit of 0.6% of GDP in 2023.
Meanwhile, the capital and financial account surplus was supported by foreign direct investment and portfolio investment. Financial system resilience is maintained in terms of capital, credit risk, and liquidity. Credit growth will increase by 10-12% in 2023 and in 2024.
Digital economy and digital finance are also expected to grow in 2023 and 2024, with e-commerce transaction value expected to reach 572 trillion IDR and 689 trillion IDR, electronic money reaching 508 trillion IDR and 640 trillion IDR, Digital Banking Exceeds IDR 67,000, IDR Reaches 87,000 Trillion.
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Source by Detik Finance, written by Ilyas Fadilah – detikFinance, translated by Aurora Team.
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