Indonesia's inflation, at a well-maintained 5.9-percent level, makes the country among the five countries with the lowest inflation rate in the world
Jakarta (ANTARA) - Coordinating Minister of Economic Affairs Airlangga Hartarto drew attention to the fact that Indonesia's 5.95-percent inflation (yoy) in September 2022 is among the lowest in the world.

"Indonesia's inflation, at a well-maintained 5.9-percent level, makes the country among the five countries with the lowest inflation rate in the world," Hartarto stated here.

During a meeting with the Indonesian Ulema Council (MUI) here, Tuesday, the coordinating minister highlighted that the well-maintained inflation was an outstanding feat, considering the ongoing global crises in various sectors.

Synergy and collaboration among national stakeholders are causal to the relatively low inflation and high economic growth -- over five percent -- which ranked second among G20 countries, he noted.

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Hartarto also reiterated the government's commitment to continue promoting food production and diversification through the development of food estates to preserve food resilience.

Food security is among the focus areas during Indonesia's G20 Presidency apart from the global health architecture enhancement, digital-based economic transformation, and energy transition, he noted.

The coordinating minister affirmed that Indonesia had achieved rice production self-sufficiency and fertilizer production surplus, thereby enabling the country to export two million tons of fertilizer annually.

Hartarto highlighted the government's commitment to advancing the competitiveness of micro, small, and medium enterprises (MSMEs), as Indonesia's MSMEs are projected to become the largest in Southeast Asia by 2025.

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"The government understood the importance of MSMEs. Hence, to promote economic growth during the COVID-19 pandemic, super-micro businesses are being provided (a loan) ceiling up to Rp10 million (US$660)," Hartarto remarked.

Moreover, the government is committed to developing the halal industry and MSMEs through digitization, which will significantly benefit the national economy and people's welfare.

The coordinating minister then urged the MUI to partake in efforts to maintain MSMEs' growth, including by facilitating halal product certification.

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Translator: Astrid FH, Nabil Ihsan
Editor: Fardah Assegaf
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