The economic growth of Indonesia is considered steady despite the current global slowdown. The slowdown due to the US-China Trade War has not significantly affected the country’s economy.
Coordinating Minister for Economic Affairs, Darmin Nasution, said so. During Capital Market Summit and Expo (CMSE) 2019, the minister confirmed that Indonesia has not suffered any slowdown in economy.
“Since early last year, the global economy has faced several uncertainties and turmoil here and there, particularly owing to the trade war. We, however, remain capable of maintaining our economic growth,” said Darmin Nasution.
“We can witness the journey of Indonesia’s capital market over the last 42 years since it was reactivated on August 5, 1977. At that time, the market capitalization was only Rp2.73 billion, and after 42 years, it has grown 2.500 times to reach a value at Rp7,173 trillion,” he added.
In addition, he also mentioned the considerable growth of investors. As of August 15, 2019, the number of investors has reached 1.049.000 investors. Accordingly, this indicates a huge achievement.
Also Read: Indonesia Capital City Relocation May Cost $33 Billion
Recent Indonesian Economic Growth
To date, Bank Indonesia (BI) has forecasted that the national economy will continue to grow. Accordingly, the growth will be at a stable pace between 5.1% and 5.2%, Antara News reported.
Among all G20 countries, Indonesia belongs to those who have high economic growth despite the undergoing global slowdown. This downturn currently hinders economic growth of numerous countries worldwide.
“The global economic condition is getting more and more difficult. Many countries are experiencing an economic slowdown and (the effect of) the trade war is spreading As a result, the economic growth of several countries has been corrected,” BI Deputy Governor Dody Budi Waluyo stated.
“Can the economic growth of 5 percent increase? Of course, we must look at reality. As long as we have made the effort, the economic growth forecast of 5.1 to 5.2 percent for this year and next year can be achieved,” he further explained.
Also Read: Indonesia Keeps Investing in Infrastructure
