We will continue to redouble efforts to ensure the sustainability of the national economic recoveryJakarta (ANTARA) - President Joko Widodo (Jokowi), in his 2023 state budget speech, said that the government is targeting economic growth of 5.3 percent year on year in 2023.
"The 2023 economic growth is expected to reach 5.3 percent. We will continue to redouble efforts to ensure the sustainability of the national economic recovery," he informed in his speech on the state budget draft for the 2023 fiscal year.
Widodo delivered the speech during the plenary meeting of the House of Representatives (DPR) for the 2022–2023 sitting period at the Parliamentary Complex here on Tuesday.
The government will continue to push for consistent production expansion to create as many job opportunities as possible, he informed.
He also stressed that new sources of growth must be realized without delay. In keeping with this, the implementation of various structural reform agendas has continued to be accelerated for bringing about economic transformation.
"Investment must be stimulated, while the competitiveness of national manufacturing products in the global market must be improved," the President said.
He further noted that the private sector has increasingly become more robust as an engine for growth. Therefore, the management of fiscal policy can be better directed at creating a balance between improving productivity and competitiveness, as well as maintaining fiscal health and continuity to manage future risks and dynamics.
The 2023 economic growth target of 5.3 percent is higher than the target of 5.2-percent growth set by the government in the 2022 state budget. The growth target indicates that Indonesia’s economy has continued to recover after recording a growth of 3.69 percent in 2021 due to the impact of the COVID-19 pandemic.
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Translator: Indra Arief, Raka Adji
Editor: Sri Haryati
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