Bank Indonesia (BI) has stated that the national economic growth remains strong, supported by robust domestic demand and positive export performance. Governor Perry Warjiyo mentioned that the increase in household consumption continues, driven by rising mobility, improved income expectations, and controlled inflation. He also highlighted that investment remains strong, particularly in non-construction sectors, in line with positive export performance and ongoing downstream activities. The tourism sector has also shown improvement, correlated with an increase in international tourist visits. The economic recovery in Indonesia is confirmed by Bank Indonesia's survey on increased consumer confidence and positive growth in retail sales.
Furthermore, the recent data from the Central Statistics Agency (BPS) indicates that Indonesia's economic growth in the first quarter of 2023 reached 5.03%, slightly higher than the same period the previous year at 5.02%. Looking ahead, the economic growth for 2023 is projected to remain within Bank Indonesia's range of 4.5 to 5.3%. Governor Perry Warjiyo emphasized that Bank Indonesia will continue to strengthen the synergy between fiscal stimulus measures implemented by the government and macroprudential policies to drive economic growth, particularly from the demand side.
