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View all search resultsA healthy economy must be felt
Similar to how money can buy some peace of mind but is no guarantor of happiness, a strong economy does not necessarily lead to general prosperity.
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A vendor serves customers shopping for staple foods on June 11, 2026, at Kahayan Market in Palangka Raya, Central Kalimantan. (Antara/ Auliya Rahman)
S
imilar to how money can buy peace of mind but is no guarantor of happiness, a strong economy does not necessarily lead to general prosperity, even though it generates the means that could be used to address social problems.
It is important to keep that in mind when we look at macroeconomic statistics, such as the GDP report and other data published last week. What matters ultimately is not the numbers themselves, but how economic activity impacts individuals’ wellbeing.
The divergence between macroeconomic indicators and public perceptions about Indonesia’s economy seems to be particularly wide these days.
It should give us pause that 49.4 percent of the respondents in a survey by pollster Saiful Mujani Research and Consulting (SMRC) in July said economic conditions were "bad" or "very bad", while just 15.7 percent said the economy was doing well, even as inflation in the very same month eased to a safe annual rate of 2.88 percent, the unemployment rate dropped slightly according to the latest report and GDP growth for the second quarter remained robust at 5.29 percent.
Is that because the government has created too high expectations with its 8 percent growth goal? Probably not, because most would have been skeptical about that promise from the start.
More likely, it is because the majority are not experiencing much growth in their personal lives, such as when it comes to job and business opportunities. Someone’s making money, but what difference does it make whether the economy grows at 5, 6 or 7 percent to those who feel they are not fully participating?
A healthy economy is felt, not just measured.
