4.94 (15.66) CEI LEI (%yoy, rhs) Economic growth (6.0) 2.0 10.0 6.0 (2.0) (10.0) (20.0) 40.0 80.0 60.0 20.0 0.0 (40.0) 17 Jan 17 Jun 17 Nov 18 Apr 18 Sep 19 Feb 19 Jul 19 Dec 20 May 20 Oct 21 Mar 21 Aug 22 Jan 22 Jun 22 Nov 23 Apr 23 Sept LEI vs Indonesian Economic Growth #17 GDP 2022 = USD1.3 trillion (1.3%) GDP per Cap = USD4.7 thousand Source: CEIC and Bloomberg, September 2023, Data processed The rate of decline in the LEI in various countries was caused by the downside risk of global economic recovery due to the high interest rates of most central banks, in line with the eleveted inflation (especially in developed countries). There were at least four main challenges that needed to be monitored in the future, in line with the rate of global economic growth which was dynamic and fluctuating. First, the global inflation trend was historically quite high (Figure 3). The inflation rate in various countries is currently on a downward trend, but remains higher than normal conditions (pre-pandemic in 2019). Figure 3. Movement of Inflation Rates in Several Countries and Projections (%) 2.0 6.0 10.0 8.0 4.0 0.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec US CPI Inflation Rate (%yoy) 1.2 1.8 3.2 6.2 7.7 7.0 6.5 2.3 1.4 2019 2020 2021 2022 2023 0.0 2.0 6.0 12.0 8.0 10.0 4.0 (2.0) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec EU CPI Inflation Rate (%yoy) (0.3) 1.0 4.9 10.1 2.4 (3.0) 1.3 5.0 9.0 PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 189 Management Discussion and Analysis on Bank Performance
RkJQdWJsaXNoZXIy NTM2MDQ5