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Economy stable, govt to study purchasing power
The Financial System Stability Committee (KSSK) has recorded stable economic conditions up to the third quarter this year, but it has also recorded negative perception of the people’s purchasing power, said a kontan.co.id report on Tuesday.
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Finance Minister Sri Mulyani Indrawati (Antara/Wahyu Putro)
T
he Financial System Stability Committee (KSSK) has recorded stable economic conditions up to the third quarter this year, but it has also recorded negative perception of the people’s purchasing power, said a kontan.co.id report on Tuesday.
Finance Minister Sri Mulyani Indrawati said at a press conference in Jakarta on Tuesday that the situation was being discussed by members of the committee to learn whether the decline in purchasing power was real or merely perceived.
Read also: Government told to anticipate layoffs over closure of retail storesThe minister said that from the positive tax collection, the government considered the economy was in stable condition.
“Tax revenue posed double-digit growth. It indicates economic activities. Therefore, we need to run a study on the people’s purchasing power,” said Sri.
She explained that the tax revenue collected from all sectors grew positively in the third quarter, with the industry sector contributing Rp 224.95 trillion (US$16.55 billion). a year-on-year (yoy) growth of 16.63 percent, trade contributing Rp 134.74 trillion (18.74 percent yoy growth), and the financial sector contributing Rp 104.92 trillion (9.08 percent yoy growth).
The three sectors contributed 65 percent to total tax revenues, she said.
She further explained that the construction sector contributed Rp 35.40 trillion in tax revenues (2.46 percent yoy growth), the mining sector contributed Rp 31.66 trillion (30.16 percent yoy growth) and the information technology sector contributed 32.19 trillion (4.62 percent yoy growth).
“So, the economy has moved forward. From the numbers, we see confidence in all sectors,” Sri added. (bbn)
