Bank Indonesia's Governor Perry Warjiyo. (Photo: Antara/VNA) Jakarta (VNA)- Bank Indonesia (BI) projects national economic growth in the third quarter ofthis year to reach 5.5% year-on-year, higher than that of the second quarteralong with continuing improvement in the domestic economy.
Variousindicators in July 2022 and BI's last survey results, such as consumer's trust,retail sale, and Manufacture's Purchasing Managers' Index (PMI), had continuedto improve," BI’s Governor Perry Warjiyo said at a press conference onAugust 23.
According to Perry, the export performance until July 2022remains positive amid the stagnation of the global economy that comes with theincreasing risk of stagflation and persistently high financial marketuncertainty.
For this year's second quarter, the realisation ofgross domestic product (GDP) significantly grew 5.44% year-on-year, or farhigher than the estimate and achievement in the previous quarter, with 5.01%year-on-year.
The high economic growth is attributed to the rising householdconsumption and high export performance, he explained.
The continuing improvement in the national economyis also reflected in the growth of the majority of the industries, especiallyprocessing, transportation and warehouse, as well as trade. Economic improvement is supported by all regions, especiallyJava, Sumatra, and Sulawesi-Maluku-Papua.
The Governor also predicted that the core inflation willincrease by 4.15% this year due to soaring prices ofnon-state subsidised fuel.
The consumer price indexin 2022 will grow at 5.24% driven by high global food and energy prices as wellas supply shortages, he added./.
