Indonesia's Economy Impressive Compared to Others, Sri Mulyani Claims

11 August 2022 23:30 WIB

TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati in a press conference on Thursday announced that Indonesia’s Q2 economy showed admirable performance. “Indonesia is at 5.4 percent, an increase from the first Quarter of 5 percent,” said the Minister in the press conference on State Budget held virtually today, August 11.

According to the former World Bank managing director, other countries are experiencing a downward correction during Q2 such as Italy which only grew by 4.2 percent from a 6.2 percent in Q1. She also mentioned France which dropped from 4.8 percent in Q1 to 4.2 percent in Q2. 

"This illustrates that this risk (world turmoil) has begun to be seen in the second quarter of economic growth in countries that are quite large and their impact on the world is quite big," he said.

On the other hand, she said, if viewed from the context of Indonesia's real Gross Domestic Product, it was already 7.1 percent, which is above the pre-Covid-19 situation. Sri Mulyani said Indonesia's economic growth of 5.4 percent in the second quarter was a boost from the economic recovery, whether it was mainly from public consumption which increased or grew by 5.5 percent.

"This is a high growth if we compare the period 2020 to 2021 and the quarter of 2022, our household consumption growth has suffered the usual blow due to the pandemic," she said.

MUHAMMAD HENDARTYO

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