MedCom.Id are reporting on the International Monetary Fund (IMF) placing Indonesia above the UK and France and into the top seven largest economies in the world.
In the October 2022 edition of the IMF’s World Economic Outlook report, it is stated that the list issued by the IMF refers to the level of Indonesia’s Gross Domestic Product (GDP) , which refers to Purchasing Power Parity (PPP).
Indonesia recorded a GDP of USD 4.02-trillion in 2022. PPP is a measure of the comparison of the value of a currency which is determined by the purchasing power of the money for goods and services in each country.
From the list, the top three positions are occupied by China with a GDP of USD 30-trillion, followed by the United States with USD 25-trillion, and India with USD 11.6-trillion.
Previously, Minister of Finance Sri Mulyani Indrawati believed that Indonesia’s economic growth would continue to accelerate until the end of 2022.
She also made scenarios related to the challenges that will be faced. This optimism arises because Indonesia has consistently recorded economic growth of above five percent for three consecutive quarters since the first quarter.
“Our society is faced with an economy that is growing well. For three consecutive quarters we have grown above five (percent),” she said some time ago.
According to Sri Mulyani, similar optimism also emanates from the inflation rate, which although rising, is not as bad as other countries. Likewise for the exchange rate of the rupiah, which, although depreciated, is still slightly better than others.
“Indonesia has many reasons to be optimistic and move forward,” she explained.