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View all search resultsResearchers urge BPS to reveal details of GDP calculation
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A Statistics Indonesia (BPS) employee works in the 2020 population census call center room on Feb. 17, 2020, in Jakarta. (JP/Seto Wardhana)
E
conomists from multiple research organizations have urged Statistics Indonesia (BPS) to reveal the calculation behind the recently released gross domestic product (GDP) data after growth far exceeded projections.
Second quarter GDP growth went against multiple economic indicators, economists at the Institute for Development of Economics and Finance (INDEF) explained in a media briefing on Wednesday.
“Several mismatching data points of course raised public questions, whether the 5.12 percent economic growth reflects the real state of Indonesia’s economy,” said Andry Satrio Nugroho, one of INDEF’s economists.
He said input from industry organizations and associations suggested weakening business activity and pointed to “declining” revenue from retail businesses.
BPS reported on Tuesday that Indonesia’s GDP had grown by 5.12 percent year-on-year (yoy) in the second quarter, far outstripping market forecasts around 4.8 percent.
Read also: GDP up 5.12% on govt projects, consumer stimulus
Fadhil Hasan, another INDEF economist, argued that the growth was at odds with 12 “leading economic indicators” and called on BPS to open up the detailed calculation.
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