Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023

JAKARTA, Aug. 16 (Xinhua) -- Indonesia has set its economic growth target at 5.3 percent and inflation rate at 3.3 percent next year, said President Joko Widodo on Tuesday.

The growth figure is based on economic dynamics, the development agenda, and future challenges, Widodo added.

"We will try our best to maintain the sustainability of strengthening the national economy," Widodo said at an annual meeting ahead of Independence Day at the Indonesian Parliament Building in Jakarta.

Indonesia is pushing for production expansion, opening up investment and employment opportunities, to pursue the economic growth target.

Inflation in July was recorded at 4.94 percent year-on-year, a relatively moderate figure, in line with the country's success in controlling the pandemic and economic recovery, Widodo said.

Currently, state spending continues to be directed to anticipate external inflationary pressure, particularly in energy and food sectors.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Putin accuses West of blowing up pipelines as Europe steps up vigilance
EU condemns Russian annexation, will never accept "illegal" referendums
Analysis-Iran leaders in 'disarray' struggle to close ranks over protests - analysts, official
Extracts from Putin's speech at annexation ceremony
Putin signs treaties to annex Ukrainian lands
Gandhi loyalist, ex-UN diplomat in race to lead India's opposition Congress party
Senior Iran cleric calls for crackdown on protesters
UK urges North Korea to take steps towards "irreversible denuclearisation"
Kuwaiti opposition wins big in election, standoff with government to endure
Yurts provide cheap escape for Hungarians fleeing cost of living crisis

Others Also Read