Sri Mulyani Estimates Indonesia's Economy In The Second Quarter Of 2024 To Continue To Grow Above 5 Percent

JAKARTA - Finance Minister Sri Mulyani Indrawati estimates that Indonesia's economic growth in the first semester of 2024 or in the second quarter of 2024 will last above 5 percent.

"Our economy is estimated to be still in resilience, growth in the first semester of 2024, especially in the second quarter has not appeared, in this case we estimate that it can still last above 5 percent, this is because in the second quarter of 2024 various state budget steps such as THR payments, 13th salary, election activities and 8 percent ASN salary increases and 12 percent ASN pensions and the provision of THR and 13th salary is paid with 100 percent Tukin," said the Working Meeting of the DPR RI Budget Agency, Monday, July 8.

Sri Mulyani projects that in the second quarter of 2024 it will provide leverage in addition to the various national strategic projects that are still ongoing.

"Although our export performance is still running despite the weakening compared to last year, it is still positive, but contributes to economic growth in the first semester of 2024," he said.

According to Sri Mulyani, economic growth in the second semester of 2024 will still be relatively sustainable and supported by domestic demand.

"For the outlook for the second semester, we estimate that it will still relatively survive or the resilience can still survive. With domestic demand, which can still be relatively maintained with low inflation," said Sri Mulyani.

In addition, Sri Mulyani is aware of the global economic turmoil that is still moving dynamically.

In this case, the market is still waiting for the election results of a number of developed countries.

"We also remain alert to a global environment that is still dynamic, especially on the drive of changes in government from election results and very high tensions between countries and increasing geopolitical relations," he said.

Sri Mulyani projects that Indonesia's economic growth will grow in the range of 5 percent to 5.2 percent.

"The whole year is 5.0-5.2 percent for Indonesia's economic growth. This is to illustrate that we still have a buffer in terms of domestic factors that we must continue to maintain so that at a time of global conditions that we cannot control we can control," he concluded.