The Statistics Indonesia (BPS) recorded economic growth of 5.02 percent in the fourth quarter of 2021. Annually, Indonesia's GDP grew 3.69 percent over the past year. This number increased when compared to the third quarter of 2021 which grew 3.51 percent. Meanwhile, in the fourth quarter of 2020, Indonesia's economic growth was minus 2.19 percent. "Year on year, the Indonesian economy grew 5.02 percent and cumulatively or during 2021 the Indonesian economy grew by 3.69 percent," said Head of BPS Margo Yuwono, Monday (7/2). Indonesia's economic growth is in line with the positive economic growth of several trading partner countries in the fourth quarter of 2021. In detail, China grew 4 percent, the United States (US) grew 5.5 percent, and Singapore grew 5.9 percent. Then, South Korea grew 4.1 percent, Vietnam grew 5.2 percent, Hong Kong grew 4.8 percent, and the European Union grew 4.8 percent.
Previously, Finance Minister Sri Mulyani estimated that Indonesia's economic growth in the fourth quarter of 2021 could reach 5 percent. Meanwhile, annual growth was in the range of 3.5 percent to 4 percent last year. This projection is down from the initial assumption in the 2021 State Budget of 4.5 percent to 5.5 percent. "Our economic growth momentum after being interrupted by the delta variant and 2021, we estimate it will be at 3.5 to 4 percent, in which the fourth quarter is predicted to be above 5 percent because the acceleration is quite strong," explained Ani, who is familiar with her greeting at the KiTA State Budget Press Conference, Tuesday (21/12). Ani said that she based her optimism on several indicators. First, indicators of community mobility that have already exceeded pre-pandemic levels. For the first time since the pandemic, said Ani, in the fourth quarter the average mobility grew 1.4 percent. "Activities, whether general mobility, recreation, grocery, have also increased by 1.4 percent," she added.
