JAKARTA – The economy of Indonesia is predicted to increase by 5.1% in 2023 based on its progress in COVID-19 risk response and vaccination rate.
Airlangga Hartato, Coordinating Minister of Economic Affairs, claimed that Indonesia’s economic growth rate is projected to rise by several global institutions, including International Monetary Fund (IMF), World Bank, Asian Development Bank, and Organisation for Economic Co-operation and Development (OECD). They estimated the growth to reach 4.7%-5.1%.
On top of Indonesia’s adequate response to COVID-19 crisis, this economic growth rate projection is said to be further driven by the fiscal function of the State Budget, increased prices of commodities, and the success of G20 Presidency that soldifies Indonesia’s credibility in the international scene.
According to Hartarto, the inflation is also predicted to remain under control within the range of 5.34% to 5.5% until the end of this year. (LK/ZH)