Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

Economics & Macro

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Puja Pratama 22/12/2023 20:39 WIB

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In the second 2024 Vice Presidential debate, vice presidential candidate number two, Gibran Rakabuming Raka, stated that Indonesia's economic growth has recovered to 5 percent.

Indonesia's Annual Economic Growth (1998-2022)

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Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

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Indonesia's Annual Economic Growth (1998-2022)

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Vice Presidential Candidate (cawapres) number 2, Gibran Rakabuming Raka, stated that Indonesia's economic growth is resilient at 5%.

He made this statement during the second 2024 Presidential and Vice Presidential Debate themed "People's Economy, Digital Economy, Finance, Investment, Taxes, State Budget/Regional Budget Management, Infrastructure, and Urbanization" at the Jakarta Convention Center on Friday (22/12/2023).

“We must be able to escape the middle-income trap. The key is to be able to increase added value domestically, amidst the trade war. Our average economic growth remains resilient at 5%,” said Gibran.

Gibran's statement is partially in line with data from the Central Statistics Agency (BPS). According to BPS data, in 2022 Indonesia's economic growth was 5.31%. Although it fell to -2.07% in 2020 due to the Covid-19 pandemic, it climbed to 3.7% the following year and reached 5.31% in 2022.

This figure matches the economic growth trend before the pandemic, which averaged around 5%. In 2016, Indonesia's economic growth was 5.03%, increasing to 5.07% in 2017, and climbing to 5.17% in 2018.

(Read also: Check Data: Is Indonesia Really in the Middle-Income Trap?)

Editor : Dini Pramita

"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."

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Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

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Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

Data Check: Is Indonesia's Economic Growth Resilience Really at 5%?

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