Prabowo made this statement in his speech at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday local time. He explained that the IMF recognition was based on Indonesia's consistent economic growth.
"The IMF recently described Indonesia as a global bright spot with strong economic growth amidst a challenging external environment," Prabowo said.
The President explained that over the past decade, the Indonesian economy has grown above 5 percent annually. He is optimistic that this growth rate will increase this year.
In addition to stable economic growth, Prabowo emphasized that Indonesia's macroeconomic indicators remain stable. The inflation rate is around 2 percent, while the government budget deficit is kept below 3 percent of gross domestic product (GDP).
According to the President, Indonesia's economic credibility is also reflected in its fiscal discipline and consistent commitment to debt repayment. Indonesia has also been deemed to have never defaulted on its debt obligations.
"International institutions don't praise us for baseless optimism. They do so based on evidence. They recognize that the Indonesian economy is resilient," the President said.
Furthermore, Prabowo stated that Indonesia's economic resilience is the result of carefully designed and evidence-based policies.
Therefore, the government is optimistic that Indonesia will not only be able to survive the global turmoil but also capitalize on the momentum to accelerate growth.
