Economic Performance Remains Positive Despite Mere 2.97% Growth: President Jokowi

President Jokowi delivers a press statement at a plenary cabinet meeting, Wednesday (6/5). (Photo by: Rahmat/PR).

Indonesia’s economic performance remains relatively positive although growth in the first quarter this year was only 2.97 percent year-on-year (yoy), according to President Joko “Jokowi” Widodo.

“Economy grew by 2.97 percent. The delta is 2 percent, slower than the growth in the fourth quarter last year at 4.97 percent,” the President said in his introductory remarks at a plenary cabinet meeting through a video conference, Wednesday (6/5).

According to the President, compared to economic growth in other countries, Indonesia’s economic growth is still relatively positive.

“Some countries are experiencing contractions and negative growth. China’s economy fell from 6 percent to minus 6.8 percent, meaning that this growth year-on-year is 12.8 percent,” the President said.

Statistics Indonesia (BPS) on Tuesday (5/5) reported that Indonesia’s economy in the first quarter this year grew by 2.97 percent yoy, which slowed down compared to that in the first quarter of 2019 at 5.07 percent and saw a contraction of 2.41 percent quarter-on-quarter (qoq).

Meanwhile, the country’s gross domestic product (GDP) based on current prices in the first quarter of 2020 stood at Rp3,922.6 trillion and constant prices reached Rp2,703.1 trillion.

As for economic structure, according to the BPS, it is spatially dominated by provincial groups in the islands of Java and Sumatra in the first quarter this year.

The provincial groups in Java Island contributed the most to the country’s GDP at 59.14 percent, followed by Sumatra Island at 21.40 percent, Kalimantan Island at 8.12 percent, Sulawesi Island at 6.19 percent, and the islands of Bali Island and Nusa Tenggara at 2.95 percent. (TGH/EN)

Translator: Muhardi
Reviewed by: M. Ersan Pamungkas