Investment Minister Bahlil Lahadalia (Photo: BKPM)
Investment Minister Bahlil Lahadalia (Photo: BKPM)

Minister Refutes Reports on Recession in Indonesia

Antara • 11 August 2022 20:03
Jakarta: Minister of Investment and head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, has asked Indonesians to not pay heed to reports that the nation is facing economic difficulties and will enter a recession.
"Ladies and gentlemen, don't believe in issues as if the Indonesian economy is on the verge of a recession. It's a big hoax," he stressed in Banyuwangi, East Java, on Thursday.
In fact, Indonesia's economic growth is currently among the best in the world amid the ongoing global uncertainty, he clarified.

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Based on data from Statistics Indonesia (BPS), Indonesia's economic growth in the second quarter of 2022 was recorded at 5.44 percent (yoy), with the annual inflation rate reaching 4.35 percent (yoy) in June.
"In the G20 member countries, the average inflation is above 5 percent. America is above 7 percent. Britain is more than 9. percent, Turkey is over 70 percent. Indonesia's inflation in the second quarter was under control at 4.35 percent, with economic growth of 5.44 percent. This is one of the best economic growth (figures) in the world," the minister said.
Investment growth has also surged, even in the midst of global uncertainty triggered by the pandemic, the Russia-Ukraine war, and political tensions between China and Taiwan, he pointed out.
Data from the Ministry of Investment and BKPM showed that the realization of investment during January–June 2022 reached Rp586.4 trillion, or 58.4 percent of the target set for 2022, which was Rp1,200 trillion.
In the first half of this year, investment grew by 32 percent compared to 2021.
"We have investment growth of 32 percent and job creation has occurred," Lahadalia said.


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