The economic growth of East Kalimantan (Kaltim) is predicted to increase in 2023. Bank Indonesia predicts that the economic growth of Kaltim will even reach up to 5.10% year on year (yoy) in 2023. The Head of the Bank Indonesia Representative Office (KPw BI) of Kaltim, Ricky P Gozali, explained that the prediction of economic growth is based on the improved performance in the main sectors of Bumi Etam's economy. These include mining, manufacturing, construction, agriculture, and trade. "Also, positive growth support in expenditure components, including exports, investment, and household consumption," said Ricky in an official statement on Friday (24/3/2023).
The increasingly conducive economic activities and business environment, as well as the high demand for Kaltim's main commodities in the global market, have contributed to significant economic growth. Ricky also assessed that the lifting of the national PPKM policy and the still high demand for Kaltim's commodities in the global market have driven economic growth this year. Previously, Kaltim's economic performance in 2022 recorded growth of 4.48% (yoy), up from 2.55% (yoy) in the previous year. This growth is in line with Kalimantan's and national economies, which grew by 4.94% (yoy) and 3.23% (yoy) in 2021.
Ricky mentioned that the mining sector of Kaltim is expected to continue to grow along with the improvement of the global energy supply chain but it will still be hindered by several factors, such as the La Nina phenomenon that causes less conducive weather and mining equipment limitations. He hoped that this significant economic growth in Kaltim would help improve the welfare of the community and boost investment in various sectors.
