"The global economic condition is getting more and more difficult. Many countries are experiencing an economic slowdown and (the effect of) the trade war is spreading As a result, the economic growth of several countries has been corrected," BI Deputy Governor Dody Budi Waluyo said at a function marking the inauguration of Trisno Nugroho as the chief representative of BI in Bali Province, Friday. Indonesia is fortunate to see its economy grow at a rate of 5.05 percent, he said.
"Can the economic growth of 5 percent increase? Of course, we must look at reality. As long as we have made the effort, the economic growth forecast of 5.1 to 5.2 percent for this year and next year can be achieved," he said.
However, there are various factors that could hamper economic growth, he said.
"Many factors influence it, including the people's increasingly lower income that hampers the growth of public consumption. Global demand has also slowed down, thereby hampering the manufacturing sector and investment," he said.
Compared to other G-20 member states, Indonesia which records economic growth of 5 percent still belongs to a group of countries with high economic growth, he said.
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