The Government of Indonesia has set its economic growth target at 5.3% next year, President Joko Widodo said in his 2023 State budget speech during the plenary meeting of the House of Representatives earlier this week.
Jakarta (VNA) – The Government of Indonesia hasset its economic growth target at 5.3% next year, President Joko Widodo said inhis 2023 State budget speech during the plenary meeting of the House ofRepresentatives earlier this week.
The government will continue to redouble efforts to ensurethe sustainability of the national economic recovery, and to push forconsistent production expansion to create as many job opportunities as possible,he said.
He also stressed that new sources of growth must be realisedwithout delay. In keeping with this, the implementation of various structuralreform agendas has continued to be accelerated for bringing about economictransformation.
Investment must be stimulated, while the competitiveness ofnational manufacturing products in the global market must be improved, thePresident said.
He further noted that the private sector has increasinglybecome more robust as an engine for growth. Therefore, the management of fiscalpolicy can be better directed at creating a balance between improvingproductivity and competitiveness, as well as maintaining fiscal health andcontinuity to manage future risks and dynamics.
The 2023 economic growth target of 5.3% is higher than thetarget of 5.2% growth set by the government in the 2022 state budget. Thegrowth target indicates that Indonesia’s economy has continued to recover afterrecording a growth of 3.69% in 2021 due to the impact of the COVID-19 pandemic.
Widodo proposed a budget of 3,041.7 trillion IDR (205.94billion USD) for next year, given priority given to healthcare, humanresources, infrastructure development and social welfare./.
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Indonesia President Joko Widodo. (Photo: AP) 
