President Joko “Jokowi” Widodo has expressed optimism that all the challenges in the new year of 2022 can be surmounted with everyone’s enthusiasm and hard work.
“[The challenges can be in forms of] COVID-19 Omicron variant, rising inflation, tapering off or loss of containers, or other countries experiencing energy shortages which might disrupt our exports. We will be able to overcome them all,” President Jokowi said in his remarks at the kick-off of the first trading day at the Indonesia Stock Exchange (IDX) in Jakarta, Monday (01/03).
According to the President, Indonesia’s economic recovery is quite remarkable.
“Our trade balance recorded a surplus of US$34.4 billion and in 19 months it continues to post a surplus. We have never experienced anything like this. Our exports also rose 49.7 percent year-on-year. Imports of raw and auxiliary materials has also increased by 52.6 percent,” he added.
One of the reasons for the high increase in exports, he added, is the Government’s efforts to scrap exports of nickel raw materials, triggering an increase in stainless steel exports to reach US$21 billion.
“Downstreaming is the key to increasing our exports. Therefore, we will continue to stop export of bauxite, copper, tin, and other raw materials,” he said, while noting that Indonesia’s competitive index ranking has also risen by three places with the country being ranked 37th in business sector and 53rd in digital business.
The President also pointed out that in November, the country’s consumer confidence index increased to 118.5 percent, while spending index also increased to 120.5 percent.
Indonesia’s Manufacturing Purchasing Managers’ Index (PMI) was also at an expansionary level with 53.9 percent, while industrial electricity consumption grew to 14.5 percent and for business at 5.7 percent.
“We have to show the optimism for we have seen the numbers,” the President remarked. (TGH/UN) (GWH/EP)