President Prabowo Chairs Limited Meeting on Macroeconomic Indicators

Coordinating Minister for Economic Affairs Airlangga Hartarto, on Wednesday (02/11), delivers a press statement after a limited meeting on the latest development in macroeconomic indicators.

President Prabowo Subianto held a limited meeting with members of the Red and White cabinet at the Merdeka Palace, Jakarta, on Wednesday (02/11), receiving a report from Coordinating Minister for Economic Affairs Airlangga Hartarto on the latest developments in macroeconomic indicators.

Regarding Indonesia’s economic growth indicators, the Coordinating Minister reported that growth reached 5.39 percent in Q4. This figure, according to him, is the highest among G20 countries.

“Furthermore, the 5.11 percent year-on-year growth looks very promising,” the Coordinating Minister said.

In the real sector, the Coordinating Minister reported that manufacturing activity remained in the expansionary zone, with an index of 52.6. In addition, consumer confidence levels in January also showed an increase compared to the previous month.

“The consumer confidence index in January also remained high, with a 127-point increase compared to December. And, if we refer to the Mandiri Spending Index, the figure reaches 372.5,” he added.

Meanwhile, domestic consumption also showed a positive trend. The Coordinating Minister stated that real sales recorded 7.9 percent annual growth, a notable increase compared to the 3.5 percent growth recorded in December last year.

“In terms of the trade balance, we also maintained a surplus of 2.51 percent for 68 consecutive months until December. The realization of foreign direct investment (PMA) and domestic investment (PMDN) reached Rp1,931.2 [trillion]. Foreign exchange reserves remained high at [US$]154.6 [billion], and credit growth was high at 9.69 percent,” he said.

Furthermore, the Coordinating Minister reported that Indonesia’s credit rating from various international rating agencies remains at investment grade. However, the Government is considering the negative outlook from Moody’s as a matter that needs to be addressed with appropriate policy measures.

“This certainly needs to be handled, especially regarding the necessary explanations on state revenues, which also have the potential to increase, and also regarding Danantara’s plans,” he stated. (BPMI of Presidential Secretariat) (FI/MMB)