Indonesia targets 5.45 per cent annual growth after third-quarter expansion
Economic affairs minister Airlangga Hartarto cited inflation, investment and manufacturing activity as reasons for confidence in the government's target.
Indonesia’s government expects full-year economic growth to reach 5.45 per cent after the economy expanded by 5.47 per cent in the third quarter, Coordinating Minister for Economic Affairs Airlangga Hartarto said in Jakarta.
Airlangga outlined the outlook at a press conference following a diplomatic breakfast co-hosted with the Indonesian Chamber of Commerce and Industry (Kadin). Foreign ambassadors and diplomatic officials attended the gathering to discuss Indonesia’s economic performance.
Among the indicators supporting his assessment, Airlangga cited inflation of 3.23 per cent, which he said remained within government budget assumptions. He also reported investment realisation of approximately 75 per cent, totalling Rp1,539 trillion through the third quarter.
Foreign exchange reserves stood at US$146.8 billion, alongside a continuing trade surplus, he said. The manufacturing Purchasing Managers’ Index rose to 54, indicating that activity in the sector was expanding.
Airlangga also said President Prabowo Subianto had directed officials to reassure the public and international partners about the strength of domestic economic conditions despite recent political developments at home.
