The government’s strategy contributed to maintaining the momentum of economic growth as seen from the gross domestic product expanding 5.01 percent year-on-year in the 2022 first-quarter, Presidential Special Staff for Economic Affairs Arif Budimanta stated.

“Several demand-creating supply strategies by the government had contributed to maintain our current economic growth,” Budimanta told ANTARA on Monday.

The economic growth achievement in the first quarter of 2022 is attributed to various government policies, such as for maintaining price stability, and expanding social protection programs in order to maintain and restore household consumption affected by the pandemic.

The government also pursued the distribution of the credit financing program for Micro, Small, and Medium Enterprises (MSMEs) and encouraged the use of the Domestic Component Level (TKDN).

Hence, Budimanta remarked that the momentum of national economic growth could be maintained in the first quarter of 2022 amid the community mobility restriction (PPKM).

“The government continues to restore the national economy, especially public consumption, which, so far, has the largest contribution to the national economy,” he noted.

Statistics Indonesia (BPS) on Monday announced that the Indonesian economy in the first quarter of 2022 grew 5.01 percent as compared to the corresponding period last year (year-on-year/yoy) due to the recovery in community economic activity.

Based on annual expenditure (yoy), Indonesia’s economic growth was supported by exports, 16.22 percent; household consumption, 4.34 percent; and investment, with 4.09 percent. Meanwhile, government spending registered negative growth by 7.74 percent.

The value of GDP at current prices in the first quarter of 2022 reached Rp4,513 trillion and the value of GDP at constant prices was Rp2,819 trillion.

On an annual basis, the Indonesian economy grew 5.01 percent (yoy). However, as compared to the previous quarter in the fourth quarter of 2021, the Indonesian economy declined by 0.96 percent (yoy).

Source: Antara News