Malang City’s economic growth expanded by an amazing 6.32% in 2022. This statistic exceeds pre-pandemic growth and is the greatest in the recent decade. When economic growth exceeds the 5.80% development goal for 2023 one year earlier, that is also something to be proud of.
Drs. H. Sutiaji, Mayor of Malang, stated that this economic growth is the outcome of a collaborative economic recovery. Starting with the construction of the Malang Creative Center and supporting various ecosystem programs for 17 creative economy sub-sectors, enhancing the role of MSMEs, revitalizing people’s markets, promoting tourism destinations, creating business ecosystems that attract investment, and undertaking bureaucratic reforms that are increasingly having an impact.
Comparatively, Malang City’s economic growth in 2022 is higher than East Java’s (5.34%) and the national economy’s (5.31%). Erny Fatma Setyoharini, the head of Badan Pusat Statistik, stated that although there is still a slowdown in the global economy, Malang City’s economy will expand “impressively” in 2023.
BPS reported that Malang City’s economic growth had returned to the pre-pandemic levels of above 5%. In the pre-pandemic years of 2018 and 2019, Malang City’s GDP growth was 5.72% and 5.73%, respectively. The pandemic in 2020 caused a reduction in the economy’s speed, which weakened to -2.26. Even so, Malang City’s economy greatly improved to 4.21% in 2021. Even 6.32% has now been breached.
Source: Kliktimes
