0:09
The tough challenge of maintaining growth.
0:31
Central Statistics Agency (BPS) has just
0:34
released the national economic growth figures
0:36
for the first quarter of 2026. The
0:40
Indonesian economy grew 5.61%
0:43
in the first 3 months, exceeding
0:46
the government's target of
0:50
This growth is also higher than the
0:51
first quarter of last year, which was only 4.87%.
0:57
BPS stated that high public consumption of music
0:59
was the main driver of
1:00
growth from January to March 2026
1:04
. Its contribution reached 54.36%
1:10
Growth was also supported by
1:13
strong investment and government spending
1:20
Danantara projects and the free nutritious meal program
1:23
that has been running since the beginning of
1:25
the year are claimed to have succeeded in turning around the wheels of
1:28
the economy, which was previously predicted to
1:32
geopolitical crisis in the Middle East since
1:34
last February. From that perspective,
1:37
it seems that appreciation is due to the
1:40
government for its achievements. The
1:42
very high growth figures in the
1:44
first quarter of music should be
1:46
able to serve as initial capital to maintain the
1:49
growth trend in music in the
1:52
If we can record high growth in music at the beginning
1:56
higher in the next three quarters,
1:59
6% or at least the same as the first quarter.
2:04
However, beyond the analysis of
2:07
future projections, discussions about the substance of
2:10
economic growth are also no less
2:12
important. The high economic growth
2:15
must of course be correlated with
2:18
the welfare of the community [in music]
2:19
. That's right. BPS also
2:22
noted a decrease in the number of
2:28
million people from February 2025
2:31
to February 2026. Now the total number of
2:35
unemployed people has decreased
2:37
slightly to 7.24 million people.
2:41
However, don't forget that BPS data is
2:44
in conflict with SNP Global data
2:47
[music], which recorded a contraction in
2:49
Indonesia's manufacturing industry in April
2:52
2026. Many manufacturing companies
2:55
reduced their production, resulting in many
2:57
reducing the number of employees.
2:59
This means that in the future Indonesia must be
3:02
prepared for the additional number of
3:05
high growth data is also
3:07
faced with data that continues to decline.
3:10
number of middle class. In fact, consumption,
3:13
which is the main supporter of
3:14
current economic growth, is mostly
3:18
middle class. The latest BPS data should
3:22
be a loud alarm for the government.
3:24
In the 10-year period 2019-2024,
3:28
the number of working class people decreased by 57.33 million
3:34
million people. This situation is further exacerbated
3:37
by the continued decline in
3:39
people's real incomes due to inflationary pressures that
3:42
have persisted since 2024.
3:45
Given this situation, the government cannot afford to be
3:47
complacent. The achievements in the
3:50
first quarter, which on paper exceeded
3:52
predictions, were not yet
3:54
fully inclusive [of music]
3:55
because they were not able to encourage a broad increase in the
3:57
quality of jobs and income
4:02
Without a shift in the engines of growth to
4:04
productive sectors and value-
4:07
added investment, growth is likely to
4:09
revert to a moderate trend and lose
4:12
momentum in the medium term.
4:15
Not to mention the trend of the
4:17
rupiah exchange rate against the US dollar,
4:18
which has been under pressure since the beginning of the year
4:20
. The US dollar is getting more
4:23
expensive, even touching
4:25
Rp. 17,400 at the start of this week. The
4:29
rupiah's continued weakness
4:31
will certainly continue to cast a shadow over
4:33
future economic movements. With all
4:36
these problems, it is necessary
4:37
to strengthen government policies that are
4:39
more appropriate and targeted. Only the
4:45
vigilance and boosting acceleration.
4:48
[music] Height growth will be maintained
4:51
until the end of the year. High at the beginning but
4:53
weak at the end is certainly not the hope of
