TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan disclosed that the average inflation rate during President Joko Widodo or Jokowi's government is always below 4 percent.

Luhut made the statement on his Instagram @luhut.pandjaitan on Thursday, July 20, 2023. “This is one of the benefits of the downstream industry program in Indonesia, which is contributing to maintaining sustainable economic growth,” he wrote.

Quoting the 2023 Edelman Trust Barometer report, Luhut said Indonesia placed second on the list of countries with a high level of economic optimism, beating the United States at 14th position.

“We want developed countries to understand one important thing: the ban on nickel exports that we have decided on indirectly makes it easier for the US and other countries to get access to supplies of lithium battery materials from nickel,” Luhut explained.

He emphasized that Indonesia is one of the countries that has successfully applied High-Pressure Acid Leaching (HPAL) technology to process low-grade nickel into lithium battery materials.

Only a few know what Indonesia is doing, Luhut claimed. Therefore, he assessed that there are many challenges to downstream policies.

“The multiplier effects emerging due to the downstream policy is not only our encouragement to protect the right of independently managing our country's natural resources but also a good sign for realizing the nation's vision to become a developed country in 2045,” Luhut said.

AMELIA RAHIMA SARI

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