Investment Minister Bahlil Upbeat Indonesia Far from Recession

9 August 2022 10:26 WIB

Investment Minister/Head of BKPM Bahlil Lahadalia attends a working meeting with Commission VI DPR at the Parliament Complex, Senayan, Jakarta, Tuesday 8 June 2021. ANTARA PHOTOS/Hafidz Mubarak A

TEMPO.CO, JakartaInvestment Minister Bahlil Lahadalia expressed his optimism that Indonesia is far from recession, its economic growth in 2022 will be above 5 percent, and investment realization will reach the target of Rp1,200 trillion.

“For 2022, we are optimistic that, inshallah, we can achieve the economic growth target of above 5 percent and investment, inshallah, reach Rp1,200 trillion,” said Bahlil at a press conference after the cabinet meeting with President Jokowi in Jakarta, Monday, August 8. 2022.

According to him, the national economy which reached 5.44 percent year-on-year in the second quarter of 2022, grew beyond expectations, especially amid global economic uncertainties.

The Indonesian economy is considered capable of growth compared to a number of trading partner countries, such as the United States which only grew by 1.6 percent, China by 0.4 percent, South Korea by 2.9 percent, India by 4.1 percent, and Singapore by 4.8 percent.

The domestic inflation rate could also be controlled at 4.35 percent yoy in June 2022. Bahlil also said Indonesia managed to maintain the inflation rate albeit many countries were experiencing difficulties due to high inflation. “Alhamdulillah we are in the middle position. It’s still good,” he said.

Bahlil also assessed that Indonesia is still far from recession. “Recession is still far away. Economic growth is good at 5.44 percent, inflation is still under control at 4.35 percent, trade balance records a surplus of US$15 billion, our investment is growing, and consumption is growing,” he said.

ANTARA

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