Sri Mulyani Cs Confident That The Indonesian Economy Continues To Grow Above 5 Percent, Blessings From THR

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said national economic growth will still grow strong amid global uncertainty. In fact, it is projected to reach above 5 percent in the first quarter of 2024.

This was revealed by Sri Mulyani in the presentation of the quarterly meeting of the Financial System Stability Committee (KSSK), virtually, Friday, May 3. Where, KSSK consists of Minister of Finance, BI, OJK, and LPS.

"Economic growth in the first quarter of 2024 is expected to remain above 5 percent and compared to the fourth quarter of 2023," he said.

The chairman of the KSSK said that Indonesia's economic growth would be driven by strong domestic demand. Both in terms of government consumption and household consumption.

In terms of government consumption, he said, the government has carried out a number of expenditures that are front loading or issued first. For example, ASN holiday allowance (THR) payments are given 100 percent.

"This provides support to government spending that strengthens people's spending or people's purchasing power," he said.

Meanwhile, he said, global economic growth is expected to stagnate at 3.2 percent. This is based on the World Economic Outlook published by the International Monetary Fund (IMF) in April 2024.

"Global economic growth is thought to be relatively stagnant with the various risks and challenges that develop," he said.