JABAR EKSPRES –The Representative Office of Bank Indonesia (KPw BI) of Yogyakarta Special Region (DIY) projects that the acceleration of economic growth in the province will continue in the second quarter of 2023.
“We estimate that the acceleration of economic growth in Yogyakarta will continue in the second quarter and overall will be in the range of 4.6-5.4 percent (yoy),” said Head of KPw BI Yogyakarta, Budiharto Setyawan, through a written statement in Yogyakarta, Sunday (5/7).
In connection with this estimate, according to him, several risks need attention, including the progress of the construction of national strategic projects (PSN), the dynamics of the global economy, as well as the risk of El-Nino on inflation and a decrease in agricultural production.
“In this regard, collaboration, innovation, and synergy between parties need to be strengthened to maintain the momentum of DIY economic growth,” he said.
Yogyakarta’s economic growth in the first quarter of 2023 continued positive growth above 5 percent.
Budiharto said this achievement was the highest growth in Java and also higher than the national growth of 4.96 percent (yoy) and 5.03 percent (yoy), respectively.
From the expenditure side, he said, DIY economic growth was supported by the strengthening performance of household consumption at 4.77 percent (yoy), which was able to grow higher than the previous quarter.
“The increase in household consumption is also above the average growth of the last three years,” he said.
The increase in the growth rate of household consumption, according to him, was supported by the improvement in people’s income in line with tourism activities that are still quite strong along with the abolition of the government’s policy of imposing restrictions on community activities (PPKM), as well as increased public confidence in economic conditions.
“The improvement in people’s income and optimism is confirmed by BI’s consumer survey,” he said.
