President Jokowi: Indonesia Must Stay Optimistic amid Economic Uncertainty, Global Crises

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 19 Oktober 2022
Category: News
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President Jokowi opens the 37th Indonesian Trade Expo (TEI) at the Indonesia Convention Exhibition, BSD City, Tangerang, Banten province, Wednesday (10/19). (Photo by: PR of Cabinet Secretariat/Jay)

President Joko “Jokowi” Widodo called on the nation to remain optimistic in facing economic uncertainty and global crises since several economic indicators show positive trends.

“We all must maintain our optimism even though international institutions say that this is a tough year and maybe much tougher next year. We must stay vigilant and be alert because we do not know how strong the storm will be. It is even harder to predict what kind of impact it will have on us,” the President stated in his remarks at the Opening of the 37th Indonesian Trade Expo (TEI) at the Indonesia Convention Exhibition, BSD City, Tangerang, Banten province, Wednesday (10/19).

The President went on to say that Indonesia’s economy managed to reach 5.44 percent in the second quarter amidst global recession.

“We should be grateful that Indonesia recorded positive growth amid crises. We are regarded among the best in the G20 economies and other countries,” he said.

In August, Indonesia’s inflation rate was well-maintained at 4.6 percent and 4.9 percent in the second quarter, higher than that of other countries.

“Due to fuel price hike, inflation rose slightly by 5.9 percent. But we can still control it,” he said, adding that Indonesia also managed to record a surplus for a period of 29 months.

“Minister of Trade reported that from January to September, our surplus reached US$39.8 billion. This is not a small amount,” he added.

The President also quoted Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said that Indonesia is a bright spot in the midst of the gloom of the world economy.

“Those are not my words, Managing Director Kristalina who told that. It’s good that many people say such things. That way, global society places great trust in us,” he said.

On that occasion, the President also expressed belief that Indonesia’s economy will be able to grow positively above 5 percent.

“I still believe that in the third quarter our economy can grow above 5 percent or above 5.4 percent. Based on the figures we have observed, our trade balance last month recorded a surplus of 5.7 percent, credit grew 10.7 percent, and consumer confidence index stood at 124.7 percent. Each indicator is still in good condition. But then again, the key lies in the hard work amid difficult situation like this,” (MAY/UN) (RIF/HD/MMB)

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