Indonesia Makes a Lot of Progress Over the Last Three Years
President Jokowi has a discussion with Coordinating Minister for the Economy and Cabinet Secretary in an event at Puri Agung Convention Hall, Grand Sahid Jaya Hotel, Central Jakarta, on Tuesday (12/12) (Photo: PR/Rahmat)
President Joko Jokowi Widodo states that there are a lot of progress that have been made over the last three years.
Therefore, the President added, international rating agencies, such as Moodys, Fitch Ratings, as well as Standard and Poors grant investment grade status to Indonesia. He also adds that the rank of Indonesias global competitiveness also increases from 41 to 36 out of 137 countries.
We want to increase this Ease of Doing Business (EoDB) rank. In 2014, Indonesia was at rank 120. Then, it jumps to rank 72 this year. It is a big achievement. However, the target is more than this. I have told Coordinating Minister for the Economy that the target is rank 40 by 2019, President Jokowi says at the Second Symposium of 100 Indonesian economists, held at Puri Agung Convention Hall, Grand Sahid Jaya, Central Jakarta, Tuesday (12/12) morning.<>
Reflecting on this achievement, according to the President, Indonesia must be optimistic. Even, other countries are optimistic about the development of Indonesias economy.
There are Transactions
The President explains that from the side of expenditure, there are several areas that contribute to economic growth at the third quarter, such as goods and services export 17.27 percent; investment 17.11 percent; non profit consumption institutions that serve household 6.01 percent, household consumption 4.93 percent, and government consumption 3.46 percent.
Furthermore, the President also says that the highest growth is achieved by information communication services sector 9.80 percent; other services 8.71 percent; transportation and warehousing 8.25 percent; and service companies 8.07 percent.
Domestic Value Added Tax (VAT) from January to December is 12.1 percent compared to the same period last year. Meanwhile, two years ago the growth was only 2.9 percent. This increasing VAT means that there are transactions or economic activities.
In tourism sector, the number of tourists in three quarters this year reaches 10.46 million or increased by 25.05 percent compared to the same period in 2016 which was only 8.36 million.
Export value of Indonesia also shows some achievements. The President explains that the value of export from January-September increased by 17.36 percent or USD123.36 billion compared to the same period in 2016. In the meantime, non oil and gas export increased by 17.37 percent or USD125.6 billion.
This is a big achievement. Even, it is higher than the period of commodities boom. I think we should pay attention to this, the President says while adding that import value of consumption goods from January to September also increased by 11.81 percent; raw materials increased by 15.21 percent; and capital goods also increased by 9.51 percent.
Coordinating Minister for the Economy Darmin Nasution, Cabinet Secretary Pramono Anung, and Head of Investment Coordinating Board Thomas Lembong joins President Jokowi on that event. (FID/RAH/ES)(MMB/YM/Naster)
