The synergy to maintain the recovery momentum is undertaken by pushing various strategies, Coordinating Minister for Economic Affairs Airlangga Hartarto noted during the Maybank Indonesia Economic Outlook 2023 here, Wednesday.
These include implementation of the social protection program for the vulnerable populace, economic transformation through the Job Creation Law, and downstreaming of natural resources.
They also encompass adjustment of the natural resources export proceeds (DHE) policy and development of infrastructure and human resources through various programs, such as the Pre-Employment Card.
Moreover, to mitigate the impacts of the rise in global commodity prices, the government also makes various additional efforts to control inflation through the Central Inflation Control Team (TPIP) and Regional Inflation Control team (TPID) forum.
The effort to control inflation is undertaken through the 4K policy strategy comprising price affordability, supply availability, distribution smoothness, and effective communication.
Through the application of this strategy, Indonesia's inflation in 2022 had managed to be under control at 5.5 percent (yoy).
In confronting global economic uncertainty, Indonesia has demonstrated its resiliency through an impressive economic growth achievement of 5.31 percent (yoy) in 2022.
According to Hartarto, domestic economic growth is accompanied by the improvement in various sectors, starting from household consumption, export, transportation, and warehouse to accommodation, food and beverage.
"A number of indicators in the real and external sector also show positive prospects," he added.
These indicators comprise the Customer Trust Index that remained at an optimistic level and the Manufacture Purchasing Managers' Index (PMI) that continues to be at an expansive level.
They also include a surplus in trade balance for 33 months in a row, surplus in ongoing transactions, and declining foreign debt ratio.
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Translator: Agatha Olivia V, Fadhli Ruhman
Editor: Rahmad Nasution
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