IMF: Indonesia’s Economic Growth Far Above Global Average

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has announced that Indonesia recorded economic growth, far above the global average, and has been able to maintain it amid global uncertainty, according to reporting by Antara News.

She made the statement during a meeting with Indonesian President Jokowi on the sidelines of the G7 Summit in Hiroshima, Japan, on Saturday, according to a press release issued by the Press Bureau of the Presidential Secretariat.

Considering Indonesia’s achievement, Georgieva said that the IMF expects the nation to assist other developing countries, especially in poverty alleviation programmes, say Antara News.

Indonesia has an important role in addressing several issues in the midst of the current challenging global situation since the country is considered capable of establishing relationships and communication with all parties, and more roles like those carried out by Indonesia are needed, Georgieva said.

She also expressed her appreciation for Indonesia’s successful holding of the G20 presidency in November 2022 as well as the 42nd ASEAN Summit in May 2023, say Antara News.

Meanwhile, the Indonesian President said that he welcomed the launch of the IMF Global Policy Agenda and the establishment of a financial risk early warning system, which he described as important.

The President also stated at the meeting that Indonesia’s economy is expected to grow 5.1-percent in 2023 and 5.0-percent in 2024.

Several Indonesian ministers, including Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, Coordinating Minister for Economic Affairs, Airlangga Hartarto, and Foreign Affairs Minister Retno Marsudi also joined the meeting.

Antara News also report that Indonesia recorded economic growth of 5.03-percent Year-on-Year (YoY) in the first quarter of 2023, according to data provided by Statistics Indonesia (BPS).

The implementation of national- and international-scale events in Indonesia had a significant impact on economic growth during the period, the BPS noted. 

Source: Antara News

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