Year-End Holidays To Elections Will Boost Manufacturing Industry Demand

Manufacturing (Photo: dock. Antara)

JAKARTA - The Ministry of Industry (Kemenperin) estimates that the momentum of the 2024 election until the end of the year holiday will increase demand for manufacturing industrial products.

"In the future, we are still having events that are predicted to increase demand or demand for manufacturing products, such as election events, year-end holidays, and new school years," said Ministry of Industry spokesman Febri Hendri Antoni Arif in a October IKI assessment release at the Ministry of Industry Building, Jakarta, Tuesday, October 31.

"We see that these events can support the movement of the manufacturing industry, especially in terms of demand," he added.

Febri did not deny that there were a number of sub-sectors that were also affected by the weakening of the rupiah exchange rate against the US dollar, especially sub-sectors whose raw imports and products were sold domestically.

"For these products, we will pursue in the near future to tighten again or pursue the government's target of spending on domestic products with a domestic product use program (P3DN)," he said.

He hopes that with the P3DN program, it can further increase demand for domestic products, especially in the domestic market, as well as requests from households and the private sector.

"We from the Ministry of Industry also encourage the implementation of lartas in some of these sub-sectors to control imported goods, so that some products from the domestic industry can compete, especially in the domestic market," said Febri.

Meanwhile, based on the IKI October 2023 report, the level of optimism for business actors for business conditions for the next six (6) months is still high, reaching 61.0 percent.

Then, as many as 24.9 percent of business actors stated that their business conditions were stable over the next six months, which this figure did not change from the conditions in the previous month.

"Finally, the percentage of pessimism of the views of business actors on the conditions in the next six months is 14.0 percent or an increase compared to the previous month of 11.6 percent," added Febri.