Indonesia projected to grow 5.2% this year
Governor of Bank Indonesia (BI) Perry Warjiyo has estimated that the country will grow 5.2% in 2022, supported by exports and domestic consumption.
People shop at a supermarket in Indonesia. (Photo: AFP/VNA)Meanwhile, in 2023, he estimated that the growth can reach 4.6 to 5.3% or higher than that of the global economy that is estimated at 2.6%, reported the local news agency Antara.
This year's economic growth forecast was made in the context that Indonesia has managed to maintain the purchasing power of the people, who contribute over 50% of the gross domestic product (GDP) by controlling inflation, among others.
In September 2022, the annual inflation reached 5.9%, lower than BI's forecast of 6.2%.
"This is due to strong coordination to overcome the impact of the propagation of the increase in commodities and fuel oil (BBM) prices. Coordination is carried out through the Central and Regional Inflation Control Teams, the national movement to control food prices, and the provision of fiscal incentives," Warjiyo said as quoted by Antara./.
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