JAKARTA. The economic growth of Indonesia throughout 2023 has remained stable after the increase recorded in Q2 2023 of 5.17% year-on-year (yoy). It shifted from the same period in 2022 that recorded 5.03% growth.

Deputy of Balance and Statistical Analysis of Statistics Indonesia (lit. Badan Pusat Statistik/BPS), Moh. Edy Mahmud, mentioned that Indonesia still manages to maintain its economic growth at above 5% yearly, which indicates steady growth. “Amidst the global economy that is slowing down and the decline of top commodities’ prices, Indonesia’s economy grew solid by 5.17% yoy in Q2 2023,” he explained in a press conference today (7/8).

Edy also mentions that in Q1 2022, the trend of Indonesia’s economy was recorded reaching 5.03%. Thus, by quarter to quarter (qoq), Indonesia’s economy shifted 3.86% compared to the previous quarter.

According to Mahmud, the Indonesia’s economy has shown improvement for the past 7 quarters. “It shows how Indonesia’s economy continues to stabilise,” he added. (AM/ZH)