Kedutaan Besar Republik Indonesia
Ottawa
Embassy of the Republic of Indonesia
Ambassade de la RÉpublique d'Indonésie

Indonesia conducive for economic growth: President

Jakarta (ANTARA News) – Indonesian president Joko Widodo said here on Wednesday that factors supporting the countrys economic growth have been highly conducive.

He added that the countrys economy continued to grow well amidst global economic slowdown and difficulties faced by many countries.

“We can still grow 5.18 percent, for example, in the second quarter and a little down to 5.02 in the third quarter. Compared to other member countries of G20, our economic performance was not too bad. Our growth rate still ranked third after India and China,” he stated, while opening the Executive Leadership Program for directors of state-owned companies at the state palace.

He remarked that the countrys economic growth was still better than other countries whose growth rate had been negative or had dropped drastically.

He confirmed that the rate of inflation in the country had also been under control and lowered to 3.02 percent in 2016 and 3.35 percent in 2015 from between 8.5 and 9.0 percent.

“Regarding the economic growth, the most important thing is preventing a gap. What is the use of growth up to 6 percent while inflation stands at 9 percent,” he stated.

He added that Indonesias economy this year meanwhile was projected to be above 5 percent.

“What does it mean? It means there will still be growth there and so we must be optimistic,” he told the directors.

He said the projection was also based upon prediction that state revenues would also increase in the year in line with the increasing state expenditures.

“So we must be optimistic,” he remarked.

“There is no need to be pessimistic with regard to the figures. However we must also be realistic and objective, “he added.

Widodo reminded that the current world economic conditions were still very volatile. Considering this, he also reminded state-owned companies to quickly respond to changes, conduct digital transformation, build holding companies based upon thorough calculations, pioneer new business opportunities and maintain good corporate governance.(*)