The government estimates that economic growth in the first quarter of 2022 will be in the range of 5% because a number of sectors recorded positive performance or recovered from the impact of the Covid-19 pandemic. Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance, Febrio Nathan Kacaribu, explained that the economic recovery in the first quarter of 2022 still showed a strong recovery. The recovery trend that has occurred since 2021 continues in various sectors and lines. He mentioned that the recovery in purchasing power was one of the main drivers of economic growth at the beginning of the year. Sales of cement and commercial vehicles, imports of capital goods, electricity consumption, as well as increased sales of retail goods were among the drivers of economic growth in the first quarter.
"This makes us remain optimistic, even though 2022 begins with Omicron, we see growth in the first quarter of 2022 is still quite strong, around 5%," said Febrio, recently. The BKF projection shows a recovery towards the trend that has occurred in Indonesia in recent years, namely growth is maintained in the range of 5% In the fourth quarter of 2021, economic growth was recorded to reach 5.02 %. "This then becomes a source of optimism, that the economy will continue to move in a better direction," he said. The increase in commodity prices, such as coal and crude palm oil (CPO) has contributed greatly to state revenues since last year. Non-tax state revenue (PNBP) has been recorded to have increased rapidly from the end of 2021 to February 2022, and has the potential to continue in March 2022. On the one hand, these factors contribute to revenue and economic growth. However, on the other hand, the high price of oil made the government decide to increase the price of Pertamax fuel oil (BBM) and make Pertalite a subsidized fuel.
