Simultaneous Elections Are Predicted To Have A Positive Impact On The 2024 Economy
JAKARTA - It is believed that the simultaneous general election (election) next year will have a positive impact on economic growth in 2024.
Head of economist PT Bank Central Asia Tbk (BCA) David Sumual predicts that the election will contribute 0.15 percent to 0.25 percent of economic growth in 2024. However, this figure could triple because the 2024 election will be held three times, namely the presidential, regional and legislative elections.
"So, this is the first time that the driving force in terms of political activities is quite large. Previously, we had never experienced elections up to three times," said David quoting Antara.
In addition, elections will also have a strong financial derivative or money multiplier effect. This is because the consumption aspect will experience strong growth and contribute quite a lot to economic growth.
David estimates that the business sector that will experience strong growth at the moment of the upcoming election will include clothing, food and beverages, logistics, and transportation.
He also said the circulation of money would spread among the public because campaigns and elections took place in many areas.
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On the other hand, although many opinions suspect investment growth will slow down due to the election, he is quite optimistic about investment performance.
David believes that investment growth in the coming political year will remain conducive, because he does not see negative sentiment in investment performance. Moreover, the current performance of the rupiah exchange rate is also fairly positive.
He added that the government could create economic stability to attract investors during the period of the political year. This is because Indonesia has sufficient political stability to be maintained in holding elections for the last 20 years.
Unlike other countries that after the election like war. If we join forces, synergize, this can contribute positively to our economy," said David.