Wednesday, 26 June 2019 09:38

Indonesian Economy Grows Consistent from Year to Year

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Minister Coordinator of Economy, Darmin Nasution Minister Coordinator of Economy, Darmin Nasution kemenko ekonomi

Although not rising rapidly, the Indonesian economy is growing in quality. Indonesia's economic development shows an increasingly positive trend in the midst of global economic uncertainty.

"We are still able to print economic growth that consistently rises from year to year. 4.88 in 2015; 5.03 in 2016; 5.07 in 2017; and 5.17 in 2018, "said Coordinating Minister for Economic Affairs Darmin Nasution at a Joint Meeting of the House of Representatives Budget Board (Banggar DPR), in Jakarta, Tuesday (25/6) afternoon.

This is supported by low and controlled inflation in accordance with the targets set in the APBN. Not only that, the quality of growth is getting better marked by poverty rates, unemployment rates, and declining gini ratios.

"The investment climate is getting better. On May 31, 2019, S & P upgraded Indonesia's rating rating by one level to "BBB" with a stable outlook. Indonesia also received investment grade at the "BBB" level with a stable outlook from all rating agencies, "Darmin said.

Not only that, said the Coordinating Minister for Economic Affairs, Indonesia still has the attraction as an investment destination country based on the assessment of The Economist and IMF. Based on the evaluation of the IMD World Competitiveness Yearbook (WCY), Indonesia's competitiveness rankings also rose 11 places from rank 43 to rank 32 in 2019, and became the country with the highest increase in the Asia Pacific.

Regarding the economic development target in 2020, the Government is targeting a poverty rate of 8.5-9.0%, the unemployment rate of 4.8-5.0%, and the gini ratio of 0.375-0.380.

The macro assumptions in the Draft APBN 2020 agreed to by the government together with Commission VII and Commission XI of the DPR RI include: economic growth in the range of 5.2-5.5% (yoy), inflation ranges from 2.0-4.0% (yoy), the rupiah exchange rate of Rp. 14,000 - Rp. 14,500 per US dollar, oil prices at US $ 60 / barrel, oil lifting at 734 thousand barrels / day, and gas lifting at 1,159 BOE / day.

The work meeting led by the Chairperson of the Republic of Indonesia DPR Budget Body Kahar Muzakir was also attended by Coordinating Minister for Political, Legal and Security Affairs Wiranto, Coordinating Minister for PMK Puan Maharani, and Coordinating Minister for Maritime Affairs Luhut B. Pandjaitan. ( Coordinating Ministry for Economic Affairs )

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