Economic growth to reach 5.5% in 3rd Quarter 2022
Bank Indonesia (BI) is confident that the increasing domestic demands will boost the national economic growth in the third quarter of 2022, arriving at a higher rate than 5.44% year-on-year (yoy) documented in the Q2 2022.
During the result announcement of BI Board Meeting yesterday (22/9), Perry Warijyo, Governor of Bank Indonesia, mentioned that the economic growth in Q3 2022 is rapid, propelled by the extremely high mobility of the communities. “The economic growth from July 2022 to September 2022 managed to reach 5.5% yoy, driven by domestic demands,” he added.
According to Warijyo, as the main drive behing the economic development, household consumption is estimated to increase 6% yoy in Q3 2022. Said number is way higher than the growth rate recorded in Q2 2022 of 5.51% yoy.
Then, considering these positive trend, Warijyo grows more optimistic that Indonesia’s economic growth in 2022 will arrive at 4.5% to 5.3%.