Jokowi projects three-percent inflation rate to be maintained

Jokowi projects three-percent inflation rate to be maintained

President Joko Widodo (center) accompanied by Vice President Ma'ruf Amin (second left), greets MPR speaker Bambang Soesatyo (second right) and DPR speaker Puan Maharani (right) while attending the 2021 MPR Annual Session at the Parliament Complex, Jakarta, Monday, August 16. ANTARA PHOTO/HO/PR of MPR/wpa/hp/rst

Inflation will be maintained at three percent, reflecting an increase in the demand side, both due to economic recovery and improvement in the people's purchasing power
Jakarta (ANTARA) - President Joko Widodo (Jokowi), in a message during his state budget speech on the 2022 fiscal year at the Parliamentary Complex in Jakarta, estimated inflation to be maintained at three percent.

"Inflation will be maintained at three percent, reflecting an increase in the demand side, both due to economic recovery and improvement in the people's purchasing power," Jokowi affirmed.

According to the president, the rupiah was estimated to reach Rp14,350 per US dollar, and the interest rate of 10-year Government Bonds (SUN) was projected at around 6.82 percent.

"The rupiah is estimated to move at around Rp14,350 per US dollar, and the 10-year government bond interest rate is estimated to reach around 6.82 percent, reflecting Indonesia's economic fundamentals and the influence of global dynamics," Jokowi stated.

The president also projected the price of Indonesian crude oil price (ICP) at around US$63 per barrel. Meanwhile, oil lifting and natural gas lifting were estimated to reach 703,000 barrels and 1,036,000 barrels of oil equivalent per day, respectively.

President Jokowi arrived at the Indonesian parliamentary complex, Jakarta, Monday, at around 8:05 WIB.

The head of state wore the traditional clothing of the Baduy tribe while delivering his speech on the Financial Note and the 2022 State Budget Bill, Monday.

Today, Jokowi is scheduled to deliver a speech at the Annual Session of the People's Consultative Assembly (MPR) and a Joint Session of the House of Representatives (DPR) and the Regional Representatives Council (DPD) as well as a speech on the submission of the State Budget Bill for Fiscal Year 2022 and Financial Notes before the plenary session of the DPR at the Parliamentary Complex, Jakarta, Monday.

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