5.02% Economic Growth Deemed Resilience amid Global Uncertainty

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Laila Afifa

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  • TEMPO.CO, Jakarta - Finance Deputy Minister Suahasil Nazara considered the national economic growth at 5.02 percent in the third quarter of 2019 a form of national resilience amid global uncertainty.

    “This is a good foundation for Indonesia to further boost its economic growth in the future,” said Suahasil, Thursday, November 7.

    Suahasil explained that the current economic slowdown affected all countries, including Indonesia. This was proven from the drop in the country’s GDP to 5.02 percent in this year’s third quarter.

    Albeit the decline, the deputy minister stressed that the figure was considerably good. For comparison, China’s GDP slipped from 10 percent to 6 percent, while Singapore even recorded at only 0.1 percent.

    Bank Indonesia Deputy Governor Dody Budi Waluyo meanwhile, reiterated that the drop in the country’s GDP from last year’s 5.05 percent was attributable to the current sluggish global economy.

    The economic slowdown occurred in almost all countries, including Malaysia and Singapore. “The global economy takes the impact of the trade war,” said Dody in Surabaya, Thursday, November 7.

    Nevertheless, Dody said that his side considered the data positive since the figure could still be maintained and quite strong in the middle of the declining global economy.

    “During such a condition that full of challenges, we have to be grateful that our economy increased by 5.02 percent. It dropped indeed, but we should give our thumbs as it still reached over 5 percent,” said Dody.

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