Bahlil says Jokowi has been successful in leading Indonesia out of the crisis: stable economic growth and inflation…

TEMPO.CO, Jakarta – Minister of Investment and Head of the Investment Coordination Council (BKPM) Bahlil Lahadalia praised President Joko Widodo of Jokowi as head of state who managed to lead Indonesia out of the multidimensional crisis it currently finds itself in.

“We have to see, this is the battle between state leaders,” Bahlil said while delivering a public lecture at the Institute of Internal Government (IPDN) Jatinangor, West Java, on Thursday, July 11, 2024, which was broadcast live on YouTube.

According to Bahlil, Jokowi’s success can be seen in the way the head of state managed to keep Indonesia’s economic growth above 5 percent in the first quarter of 2024. Meanwhile, inflation is still kept below 3 percent. Temporarily inflation In Argentina, Turkey, Bahlil has reached 80 percent and even more than 100 percent, according to Bahlil.

“Stable economic growth and stable inflation are due to strong leadership,” Bahlil said.

Minister Bahlil also explained that national economic growth will still be above 5 percent in 2023 and inflation will be below 3 percent. In fact, last year’s national economic growth was recorded as one of the best growth rates in the world.

He said that only three countries will achieve the best economic growth in 2023. These three countries are India, China and Indonesia. “The rest are below 5 percent,” Bahlil said.

According to Bahlil, investments are one of the reasons for this economic growth. He said that it is the job of the Ministry of Investment to bring in investments. “But those who are responsible for the investments in the regions are the subdistrict heads, subdistrict heads, regional secretaries, department heads. They are IPDN graduates.”


Meanwhile, Indonesia’s investment target in 2023 is IDR 1,400 trillion. According to him, this target was given by President Jokowi. “And we were able to complete Rp. 1,418.9 trillion,” he said. Meanwhile, the realization of foreign direct investment (PMA) was 52.4 percent and domestic investment or PMDN was 47 percent. “Between Java and outside Java about 51.5 percent,” he said.

Of the investment during 2023, Bahlil said that labor absorption for the January-December period of that year was 1,823,543. Bahlil explained that in Southeast Asia, Indonesia’s manufacturing sector has the greatest interest in foreign investment.

In addition, Bahlil said that there were four things that contributed to Indonesia’s economic growth, namely consumption, investment, government spending and export-import. The value of foreign investment entering Indonesia in the period 2019-2023, with the largest value in first place is Singapore, followed by China and Japan.

Singapore’s investments in Indonesia amounted to US$6.5 billion in 2019, US$9.8 billion in 2020, US$9.4 billion in 2021, US$13.3 billion in 2022 and US$15.4 billion in 2023. “All the time they are saying China, China. We are talking about the WA group that has the most hoaxes,” Bahlil said.

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