Indonesias economic growth in 2022 returned to the level before the epidemic

(Jakarta Composite Electric) latest official data shows that Indonesia's economic growth rate has returned to the pre -epidemic level, but the slowdown of global economic growth may make it difficult for the Indonesian economy to maintain its current progress.

According to data released by the Indonesian Bureau of Statistics on Monday, Indonesia's economic growth rate in 2022 was 5.31 %, which not only returned to about 5 % of the annual growth rate before the epidemic, but also the fastest growth rate since 2013.

The Director of the Bureau of Statistics Marca said that the hot sales of commodities around the world have caused the prices of coal, palm oil, and steel for major exports of goods in Indonesia, and the price prevention measures have driven domestic consumption and the tourism industry will return to spring.Get "remarkable" growth.

This year's economic growth may be lower than 5 %

However, in terms of quarterly, the growth rate of the Indonesian economy in the fourth quarter of 2022 was 5.01 %, which was not only less than 5.72 % of the previous quarter, but also the first slowdown in the five quarters.

Indonesia's official predictions that the economic growth rate in 2023 will be 4.5 % to 5.3 %. However, as the global economic downside risks intensify, the actual growth rate of Indonesia may be closer to the middle point of the forecast range, or even lower.Bloomberg's economic engineer estimates that Indonesia's economic growth will fall below the level of 5 % this year.

Lelse, a senior Asian senior Economist of Kaitou, told AFP: "Due to weak global demand, high inflation rate, and rising interest rates and dragging economic activities, we expect (Indonesia's economy) to grow further in the next few quarters."

growth deceleration means that the interest rate hike cycle of the Indonesian central bank may be close to the end.Since August last year, the Indonesian central bank has accumulated a total of 225 basis points. When the meeting at the end of this month, it may be the last interest rate hike.The central bank governor Perry said last month that the global economic downside risk is estimated to be greater than the threat of inflation.Indonesia's inflation rate has begun to show signs of cooling. In January this year, the overall inflation rate rose 5.28 % year -on -year, the lowest since August last year.