JAKARTA - In the Macroeconomic Framework and the Principles of Fiscal Policy in 2024, the government assumes economic growth in 2024 at 5.3 percent to 5.7 percent.
Minister of Finance (Menkeu) Sri Mulyani said the amount of this assumption was considered realistic.
"The government views that the assumption that economic growth is targeted next year is a realistic projection," he said in a written statement quoted Wednesday, May 31.
He explained, as a country with an open economic system, the prospect of Indonesia's economic growth was influenced by the dynamics and prospects of the global economy as well as domestic factors.
The prospect of global growth for 2024 is expected to improve compared to this year which is considered the weakest year.
Global economic growth is expected to accelerate next year and will improve slightly to 3.0 percent in 2024. Judging from the global trade volume, it is also estimated that it will recover, increasing from 2.4 percent in 2023 to growing 3.5 percent in 2024," he said.
In addition, economic growth will also be supported by downstream products that continue to be strengthened to support the competitiveness of Indonesian export products.
From the domestic side, consumption activities in terms of aggregate demand are also expected to strengthen, supported by the implementation of elections and regional elections.
In addition, there is also an acceleration of the implementation of the structural reform agenda which is also estimated to encourage economic activity.
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However, responding to the faction's view of the amount of economic growth assumptions, the government agreed on the importance of increasing global turmoil awareness.
Therefore, we will continue to anticipate from various other challenges both in the short, medium and long term. The problem of climate change and the rapid development of information and digital technology, as well as the threat of a pandemic, is still a risk that we must take into account," he concluded.
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