JAKARTA (Vietnam News/ANN): Indonesia has climbed 10 places in the IMD World Competitiveness Ranking, from the 44th to the 34th, the highest rise in the world, President Joko Widodo has announced.
The President noted that Indonesia's competitiveness is reflected in its achievements in high-quality infrastructure, as well as business and government efficiency.
Its economic performance also increased from the 42nd to the 29th place in ranking, he said, considering this a positive assessment from the international community for the national economy.
Indonesia's inflation in July was controlled at 3.08%, which, the leader said, helps spur economic growth.
"Indonesia's inflation fell from 5.51 percent at the end of 2022 to 3.08 percent in July 2023 year-on-year, one of the lowest in the world," said Bank Indonesia Governor Perry Warjiyo.
During the 2023 National Coordination Meeting (Rakornas) for Inflation Control in Jakarta on Thursday, he noted that the decline in inflation occurred in all groups, including core inflation, volatile food prices, and prices regulated by the government.
All regions also recorded a decline in inflation and were within the national inflation target, Warjiyo said.
He noted that this achievement was the result of close synergy in controlling inflation between the central and regional governments and the consistency of BI policies in central and regional inflation control teams, including the National Food Inflation Control Movement (GNPIP) in various regions.
BI estimates that inflation in 2023 will remain under control within the target of 3 percent with a margin of 1 percent, and it is even likely to be around 3 percent at the end of 2023.
However, he reminded that the inflation still needs to be reduced to the target of 2.5 percent with a margin of 1 percent, in 2024.
"We believe low inflation is a very important factor for Indonesia's economic growth and the welfare of the Indonesian people," Warjiyo affirmed. - Vietnam News/ANN
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