President Jokowi: Indonesia Records Relatively Firm Economic Recovery

President Joko Widodo delivers his remarks at the 2023 United Overseas Bank (UOB) Economic Outlook at Hotel Indonesia Kempinski in Jakarta, Thursday (09/29) (BPMI of Presidential Secretariat/Lukas).

Amidst the global situation with full of uncertainty, Indonesia recorded relatively firm economic recovery based on several indicators including realization of state revenue, increase in tax revenue, Consumer Confidence Index, and Purchasing Managers’ Index (PMI).

The statement was made by President Joko “Jokowi” Widodo while delivering remarks at the 2023 United Overseas Bank (UOB) Economic Outlook at Hotel Indonesia Kempinski in Jakarta, Thursday (09/29).

“We can observe that state revenue reached Rp1,764 trillion. It means that the value increased by 49 percent year on year (yoy). I also would like to say thank you to all tax payers because tax revenue reached Rp1,171 trillion or increased by 58 percent,” the President said.

In addition, customs revenue reached Rp206 trillion or increased by 30.5 percent, while non-tax revenue (PNBP) reached Rp386 trillion or increased by 38.9 percent.

The Head of State further stated that Indonesia’s Consumer Confidence Index (CCI) increased from 123 in July 2022 to 124.7 which means that the index still on the high position.

“Related to banks, Indonesia’s credit growth reached 10.7 percent. Indonesia’s balance of trade recorded surplus during a period of 28 consecutive months. Last month trade surplus reached US$ 5.7 billion. Indeed, it is a huge amount,” President Jokowi said.

The President continued that as of August 2022, Indonesia’s Purchasing Managers’ Index (PMI) continued to strengthen and stood at 51.7.

To that end, President Jokowi expressed his optimism that Indonesia’s economic growth in Q3-2022 can reach 5.4 percent to 6 percent which is higher than Q2-2022 or 5.44 percent. (BPMI of Presidential Secretariat/AIT) (AP/HD/MUR)