S&P Visits Airlangga's Office to Discuss Indonesia's Economic Outlook
The Coordinating Minister for Economic Affairs, Airlangga Hartarto, held a meeting with the rating agency Standard & Poor’s (S&P) today at the Coordinating Ministry for Economic Affairs office in Jakarta. Representing S&P Global was Kim Eng Tan, the Managing Director of Sovereign Ratings for S&P Asia Pacific.
“This meeting serves as an important momentum to reaffirm Indonesia’s economic resilience amidst a global situation that remains full of uncertainty,” Airlangga stated via his official Instagram account. This uncertainty encompasses geopolitical tensions, the global economic slowdown, and global supply chain disruptions, which continue to pose challenges for many nations. However, Airlangga emphasised to S&P that the Indonesian economy remains relatively stable with strong and well-maintained fundamentals.
During the meeting, Airlangga noted that the government conveyed how national economic stability is supported by measured fiscal and monetary policies, robust domestic consumption, and improving external sector performance. “Inflation remains controlled, investment continues to grow positively, and downstreaming programmes are beginning to deliver real impacts on increasing the value-add of the national industry,” he asserted.
The government also continues to encourage various strategic measures to maintain economic growth momentum, including the acceleration of downstreaming projects, the strengthening of energy and food security, and the enhancement of national industrial competitiveness. “These steps are part of Indonesia’s economic transformation to become stronger in facing global pressures while being able to grow more competitively in the long term,” Airlangga added.
Through constructive dialogue with S&P, Airlangga stated that the government is optimistic that Indonesia can maintain economic stability and continue its development agenda in an inclusive and sustainable manner. “With a solid economic foundation and ongoing structural reforms, Indonesia is believed to have a long-term growth prospect that remains positive,” he concluded.