Forecasting Economic Growth: Energy Export and Macroeconomic Instruments

Mochamad Ali Imron*, Muhammad Ridhuan Tony Lim Abdullah, Moeljadi, Rozaini Binti Muhamad Rozkee
GRDP; Oil and Gas Exports; Investment; Inflation
The economic growth of an area leads more to quantitative changes with measuring instruments using Gross Regional Domestic Product (GRDP). Oil and gas exports, Inflation, and Investment are also taken the main role in impacting Economic Growth Rate in Jawa Timur Province, Indonesia. The success of economic growth can be known by the economic forecasting model. The results of this study are simultaneously the variable of oil and gas exports, inflation, and Investment have a significant effect on the economic growth in Jawa Timur. The results showed that Oil and Gas Exports, Investment, and Inflation had a considerable influence on the economic growth of Jawa Timur by 89.18 percent. Hence, to increase economic growth in oil and gas exports, the government must be wise in exporting, especially oil and gas.
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Received : 29 September 2022
Accepted : 01 March 2023
Published : 13 March 2023
DOI: 10.30726/ijmrss/v10.i1.2023.10101