Four Years of the Jokowi-JK Administration: Stable Economic Growth Around 5%

20/10/2018 21:06 WIB

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At the beginning of the Jokowi-Jusuf Kalla administration, Indonesia's economy experienced a slowdown due to the reduction in fuel subsidies, resulting in growth of only 4.88% in 2015.

Indonesia's Economic Growth (2014-First Half of 2018)

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Four Years of the Jokowi-JK Administration: Stable Economic Growth Around 5%

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Indonesia's Economic Growth (2014-First Half of 2018)

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Indonesia's economy has grown fairly steadily in the 5% range over the past four years, despite global uncertainties. The national economy experienced a slowdown at the beginning of President Joko Widodo and Vice President Jusuf Kalla's administration, growing only 4.88% in 2015 due to energy subsidy cuts deemed misdirected. However, it returned to growth above 5% the following year.

Macroeconomic conditions have been managed well and cautiously, showing continuous improvement year-on-year. This is reflected in the decrease in the unemployment rate to 5.13% in February 2018 from 5.94% in August 2014. The poverty rate also fell to 9.82% from 10.96%, and income inequality decreased to 0.389 from 0.414 at the end of 2014.

(Read Databoks: Indonesia's Economic Growth Since 1961)

In managing the State Budget (APBN) throughout the four years of the Jokowi-JK administration, which has been relatively expansive, the budget deficit remained controlled below 3%. Similarly, the current account deficit remained below 3%.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."