Economy Dependent on Stable Political Climate, Says Economist

24 January 2023 18:06 WIB

TEMPO.CO, Jakarta - Bank Mandiri Head Economist Andry Asmoro in a press conference on Tuesday said the country’s political climate needs to be guarded for the sake of the economy and to continue attracting investments into Indonesia to maintain economic growth in 2023. 

“If Indonesia can continue to maintain political stability, and political climate, that can sustain hope for Indonesians’ expenditure. If public expenses are good, investors will be able to see Indonesia’s positive prospect,” said Andry on January 24. 

He argued that the performance of investment will pose as a game changer for the 2023 economic growth as it contributes 30 percent of the total 2023 gross domestic product (GDP). Proper policy coordination between stakeholders will be important to entice investors to enter Indonesia over neighboring nations. 

“This is what people often take for granted, that fiscal policy, monetary, and banking coordination will always give Indonesia a competitive advantage compared to other emerging markets,” Andry explained. 

He projects the economic growth in 2023 will reach 5.04 percent backed by investments and public consumption.

ANTARA

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