President Jokowi highlights increased global confidence in Indonesia

Jakarta, The Gulf Observer: President Joko Widodo (Jokowi) highlighted the increase in global confidence in Indonesia after the achievement of national economic growth and controlled domestic inflation in the midst of a disrupted global economy.

The president also stated that the International Monetary Fund (IMF) lauded the economy in the country by calling Indonesia a bright spot in the midst of the gloom of the world economy.

“The Managing Director of IMF, Kristalina Georgieva, said that, not us. The appraisal would increase global trust in us,” Jokowi remarked while opening the 37th Indonesia Trade Expo in Tangerang District, Banten, Wednesday.

The economic achievement intended by Jokowi is the realization of Indonesia’s gross domestic product (GDP) growth of 5.44 percent year on year (yoy) in the second quarter of 2022. Indonesia was able to achieve that in the midst of a global recession.

“We are one of the countries to have clocked the highest economic growth among the G20 countries and other countries,” the head of state remarked.

Jokowi also noted that the inflation rate was still under control in the second quarter at 4.9 percent and 4.6 percent in August 2022. However, Jokowi acknowledged that the increase in the price of fuel oil (BBM) caused inflation in September 2022 to increase to 5.9 percent.

Despite the increase, Indonesia’s inflation until September 2022 was still under control, he remarked.

“Please compare our inflation with that of other countries, our growth with the economic growth of other countries,” he emphasized.

The head of state called on all parties to remain optimistic regarding the current economic conditions despite various international financial institutions having projected a decline in the 2022 and 2023 economies.

“International institutions say that this year is difficult and the next year will be dark. Our country must remain optimistic, but we must be vigilant and be careful because the storm is difficult to predict,” he added.