The world economy is in a crisis period due to several international events. The war, the Fed’s policy, and China’s lockdown are referred to as “disasters” for the global economy. However, according to the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, the Indonesian economy is still the best during the crisis.
Luhut explained that the statement he made was not without data. He then quoted the Chinese Foreign Minister statement, Wang Yi during a visit to Indonesia.
“The counselor from China said this, brother Luhut, we see the economies of developing countries. Finally, we concluded, that the best developing country now is Indonesia,” said Luhut.
Wang Yi, said Luhut, calling the Indonesian economy the best is not without reason. Indonesia offers easy investment, as well as full government support for all investors who want to invest their capital.
“So we must be proud of that, that now the world is in turmoil, we always pay attention to this, the president always pays attention to this,” said Luhut.
On this occasion, Luhut even invited Grab to move its headquarters in Singapore to Indonesia. According to him, the situation in Indonesia is more stable in the midst of the crisis.
“There should not be a headquarters in Singapore, make the most money in Indonesia, live in Singapore. I also ordered all palm oil to move, so that Indonesia will be great,” said Luhut.
Furthermore, the Indonesian economy is predicted to continue to strengthen. Senior Economist for Mirae Aset Sekuritas, Rully Wisnubroto, estimates that Indonesia’s Gross Domestic Product (GDP) will grow 5.08 percent year on year in 2022.
“This growth has reached the normal growth level before COVID-19, driven by household consumption which has experienced a significant increase compared to 2021,” Rully said in the Mirae Asset Second Semester Market Outlook 2022 which was monitored in Jakarta, Tuesday.
He estimates household consumption will grow to 4.81 percent year on year in 2022 or higher than in 2021 which is 2.02 percent.
In addition, an investment which is estimated to grow by 6.87 percent will also be the engine of economic growth, especially starting in the second half of 2022.
“Exports will indeed remain high, although not as high as in 2021. Because we see the prospect of global economic growth itself is not good, we see the prices of our leading export commodities declining and imports will increase,” he added.
Exports throughout 2022 are estimated to grow 10.31 percent year on year or slower than growth in 2021 which is 24.04 percent.
Meanwhile, imports are estimated to grow higher than exports by 12.54 percent year on year.
