Thursday, 29 October 2020 | 14:39 WIB

Indonesian Economy Growing amid Global Uncertainty

Indonesia Coordinating Minister of Economy Darmin Nasution (special)

JAKARTA, NETRALNEWS COM -- Although not rising rapidly, the Indonesian economy is growing in quality. Indonesia's economic development shows an increasingly positive trend in the midst of global economic uncertainty.

"We are still able to obtain economic growth that consistently rises from year to year. 4.88 in 2015; 5.03 in 2016; 5.07 in 2017; and 5.17 in 2018, "said Coordinating Minister for Economic Affairs Darmin Nasution at the Joint Meeting of the House of Representatives Budget Board (Banggar DPR), in Jakarta, Wednesday (6/26/2019).

This is supported by low and controlled inflation in accordance with the targets set in the APBN. Not only that, the quality of growth is getting better marked by poverty rates, unemployment rates, and declining gini ratios.

"The investment climate is getting better. On May 31, 2019, S & P upgraded Indonesia's rating rating by one level to "BBB" with a stable outlook. Indonesia also received investment grade at the "BBB" level with a stable outlook from all rating agencies, "Darmin said.

Not only that, said the Coordinating Minister for Economic Affairs, Indonesia still has the attraction as an investment destination country based on the assessment of The Economist and IMF. Based on the evaluation of the IMD World Competitiveness Yearbook (WCY), Indonesia's competitiveness rankings also rose 11 places from rank 43 to rank 32 in 2019, and became the country with the highest increase in the Asia Pacific.

Regarding the economic development target in 2020, the Government is targeting a poverty rate of 8.5-9.0%, the unemployment rate of 4.8-5.0%, and the gini ratio of 0.375-0.380.

The macro assumptions in the Draft APBN 2020 agreed to by the government together with Commission VII and Commission XI of the DPR RI include: economic growth in the range of 5.2-5.5% (yoy), inflation ranges from 2.0-4.0% (yoy), the rupiah exchange rate of IDR 14,000 - IDR 14,500 per US dollar, oil prices at US $ 60/barrel, oil lifting at 734,000 barrels/day, and gas lifting at 1,159 BOE/day.