Coal Demand Estimated to Boost East Kalimantan's Third-quarter Economy



TEMPO.CO, Jakarta - High foreign demand for coal is expected to boost East Kalimantan's economic growth in the third quarter of 2022,  Head of Bank Indonesia (BI) Representative Office in East Kalimantan Ricky Perdana Gozali said.

"East Kalimantan's economy in the third quarter of 2022 is expected to continue to improve, if the COVID-19 caseload is under control, so that this continues to open up opportunities for increasing community mobility and regional economic activities," said Gozali here on Saturday.

Improvements are expected to continue in line with the improving performance of the main business sectors, driven by the  high demand for coal the foreign market.

In addition, the prices of East Kalimantan's main commodities are still high so that corporations are expected to  benefit from  the momentum of the price increase, he said.

The performance of household consumption, said Gozali, is even expected to increase, in line with the controlled COVID-19 cases.

This economic growth forecast is also based on the performance of the province's  economy in the first and second quarters which  recorded positive growth, he said.

East Kalimantan's economy grew by 3.03 percent year-on-year, strengthening from the previous quarter's growth of 1.85 percent (compared to the previous year), although this growth was still below the (year-on-year) national economic growth of 5.44 percent.

"The improving performance of East Kalimantan's economy in this period was fueled by almost all business fields that grew positively in the second quarter of 2022, illustrating that economic conditions are in a recovery trend," he said.



Related Regular News: