BI Boss Confident That The Indonesian Economy Remains Strong Amid Global Uncertainty

JAKARTA - Bank Indonesia (BI) said Indonesia's economic growth remained strong amid global uncertainty, supported by the policy mix of Bank Indonesia and the Government.

BI Governor Perry Warjiyo conveyed that private consumption grew well in line with the maintenance of consumer purchasing power and strong confidence.

"Investasi meningkat, baik investasi bangunan maupun nonbangunan, sejalan dengan terlanjutnya proyek infrastruktur Pemerintah dan perbaikannya investasi swasta," jelasnya dalam konferensi pers, Kamis, 20 Juni.

According to Perry, this is reflected in the increasing domestic demand for the second quarter of 2024, among others, in the positive performance of a number of indicators of household consumption and investment, such as the Consumer Confidence index, real sales index, and the manufacturing purchasing managers' (PMI).

In addition, Perry said, increased exports of goods were driven by an increase in mining and manufacturing exports to major trading partner countries, such as China and India.

Service exports have also improved, supported by the economic recovery of foreign tourists.

Meanwhile, sectorally, economic growth for the quarterly period was supported, among others, by the growth of the Business Field (LU) of the Construction, LU, and LU Trade Center for Large and Eceran.

"With these various developments, economic growth in 2024 is predicted to be in the range of 4.7 to 5.5 percent," he said.

Perry said that Bank Indonesia will continue to strengthen synergies with the Government through fiscal stimulus and macroprudential policies, which are pursued consistently by implementing a careful macroeconomic policy principle, in order to support sustainable economic growth.