Manokwari, West Papua (ANTARA) - Bank Indonesia (BI) Governor Perry Warjiyo stated that West Papua succeeded in optimizing the processing industry and mining and quarrying sector, thereby contributing significantly to the region's economic growth in the third quarter of 2023.

"In the third quarter of 2023, West Papua's economy grew 3.73 percent (year-on-year/yoy), higher than in 2022, which was recorded at 0.81 percent (yoy)," he remarked here on Friday.

According to Warjiyo, this achievement indicates an improvement in West Papua's economic conditions from the COVID-19 pandemic, but synergy and collaboration are deemed necessary, so that the economy remains stable.

West Papua, comprising seven districts with an area of approximately 64,134.66 square kilometers, has huge potential of natural resources that must be optimized as a source of economic growth.

"Such as quality plantations of cocoa, palm oil, natural gas processing, and excellent destinations that have tourism potential. They must be explored, so that West Papua will be more advanced," he stated.

Meanwhile, he remarked that the risk of increasing inflationary pressure is a global, national, and regional phenomenon that should be anticipated together to minimize its impact.

Indonesia's inflation in December 2023 was recorded at 2.61 percent (yoy), lower than the inflation in 2022 when the figure reached 5.51 percent (yoy), which was still within the inflation target of three percent, give or take one percent.

"West Papua's inflation in December 2023 was 2.94 percent (yoy) or still relatively controlled," Warjiyo remarked.

Head of West Papua Statistics Indonesia (BPS) Merry explained that West Papua's economic performance was supported by the processing industry that grew 10.60 percent (yoy) and contributed 28.55 percent to the GRDP and the mining and quarrying sector that grew 3.68 percent (yoy), with a share of 18.78 percent to the GRDP in the 2023 third quarter.

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Translator: Fransiskus W, Kenzu
Editor: Rahmad Nasution
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