Indonesia's Economic Growth Slows Down in 2023

MACROECONOMICS - JAKARTA. Indonesia's economic growth throughout 2023 slowed down compared to the previous year. 

The Central Statistics Agency (BPS) recorded that Indonesia's economic growth throughout 2023 was 5.05% annually or year on year (YoY), which is lower than the growth achievement of 5.31% YoY in 2022. 

The Acting Head of BPS, Amalia Adininggar Widyasanti, revealed that Indonesia's gross domestic product (GDP) based on current prices was IDR 20,892.4 trillion. 

Then, if viewed based on constant prices, it was IDR 12,301.4 trillion. 

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Actually, the economic growth achievement conveyed by BPS is also in line with the estimates of both the Ministry of Finance and Bank Indonesia (BI). 

At the beginning of last week, Finance Minister Sri Mulyani Indrawati estimated that economic growth throughout 2023 would be around 5.0% YoY. 

Meanwhile, at the end of last week, BI Governor Perry Warjiyo estimated that economic growth throughout 2023 would also be around 5.0% YoY. 

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