Airlangga Hartarto The Coordinating Minister for the Economy said, Indonesia has the ability to continue to accelerate economic recovery. In line with the positive trend, the Government projects national economic growth in 2023 at 5.3%. "This is in line with projections in the range of 4.7% to 5.1% from various international institutions. The projected national economic growth in 2023 is much higher than the outlook for the global economy," he said at the Jakarta Presidential Palace, Tuesday (6/12/2022). Regarding this projection, M.Faisal, Executive Director of the Center for Reform Economics (CORE), predicts that national economic growth in 2023 will only be able to grow in the range of 4.5 to 5.0%. "In 2023, we predict that it will return to pre-pandemic conditions, where investment will return to number two, and investment growth in Indonesia is not expected to be much disturbed by global economic pressures," he told reporters, Wednesday (7/12/2022). Household consumption, continued Faisal, is expected to remain strong, and the inflation rate will decrease. Then, in line with the weakening of the driving force for exports, investment has again become the second largest source of growth for the national gross domestic product (GDP). "What will support going forward is actually a positive investment trend in 2023, because domestic consumption is still strong, the secondary sector manufacturing industry is also still experiencing expansion. This means that the investment is still prospective," he explained. Then, during the Covid-19 pandemic, especially throughout 2020, the manufacturing industry in aggregate continued to grow.
Now, when people start to move and have high mobility, the service sector is also growing. “The mobility restrictions are minimal. So, the service sector should have started to increase its growth again. So, the investment prospects are quite good," he said. One industry that has developed and is predicted to be even more successful next year is the derivatives industry, downstream mining products, including nickel. This is in line with the world's trend towards vehicles based on new, renewable energy or green energy, as well as the Indonesian government's enthusiasm to produce electric vehicles (EV). Regarding electric vehicles, the Coordinating Minister for the Economy emphasized President Joko Widodo's direction to accelerate various investment permits as well as the development of upstream and downstream ecosystems for electric vehicles, from batteries to the EV-based automotive industry, 4-wheel or 2-wheel planning, ecosystem planning, as well as the incentives that need to be given. . Meanwhile, Piter Abdullah Redjalam, Executive Director of the Segara Institute, said that the government is still realistic with the projected national economic growth of 5.3%. He continued, Indonesia's economic conditions are different from many other countries. Indonesia relies more on domestic consumption as the main pillar of the economy. If the global economy is in a downturn and commodity prices tend to rise, Indonesia is likely to benefit from the increase in prices.
