Economic Growth in Q2 Expected to Exceed Inflation: Chief Economic Minister

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 4 Agustus 2022
Category: News
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Airlangga Hartarto. Photo by: PR of Cabinet Secretariat/Rahmat

National economic growth in the second quarter of 2022 is projected to be higher than 5 percent thanks to higher public consumption and manufacturing industry growth, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.

“We are taking measures to manage the recent inflation rate, which is at 4.9 percent, while our economic growth is expected to be higher than 5 percent. Tomorrow, Statistics Indonesia (BPS) will announce data of economic growth in Q2. The Government, after taking into account the Consumer Confidence Index and PMI (purchasing manager index), is optimistic that economic growth will be higher than 5 percent,” the Minister said in Jakarta, Thursday (08/04).

According to Airlangga, worsening inflation was triggered by higher prices of food and energy commodities, adding that the Government continues to maintain people’s purchasing power for the two commodities through a number of subsidies.

“Indonesia does not apply policies for cost-past through. The amount for subsidies this year has been approved by the House of Representatives (DPR),” he added.

Airlangga also pointed out that the Government had also ordered the Central and Regional Inflation Control Team to continue maintaining and monitoring prices of various commodities, including food commodities.

“Price of rice remains relatively stable, while prices of other main commodities also remain relatively stable. Prices of seasonal products such as chilies and onions are also under control. (TGH/UN) (RI/EP)

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