Coordinating Minister Airlangga Targets Investment In Indonesia In 2024 To Reach IDR 1,650 Trillion

Coordinating Minister for Economic Affairs, Airlangga Hartarto. (Photo: Doc. Setkab)

Coordinating Minister for Economic Affairs Airlangga Hartarto said the government is targeting investment inflows by 2024 to reach IDR 1,650 trillion.

"Next year's investment target is IDR 1,650 trillion, then next year we must also prepare food availability, especially in 2024, which is expected to change from El Nino's phenomenon to La Nina," said Airlangga after a limited meeting of the Macroeconomic Framework (KEM) and Fiscal Policy Principles (PPKF) in 2024 at the Presidential Palace, Jakarta, quoted from Antara, Monday, February 20.

According to Airlangga, the government will try to increase the flow of investment in various ways, including implementing Government Regulations in Lieu of Law (Perppu) related to Job Creation, the Law on the Development and Strengthening of the Financial Sector, Law Number 1 of 2022 concerning Financial Relations of Central and Regional Governments (HKPD).

Then, the government will also continue downstreaming of natural resources and the construction of the capital city of the archipelago.

Airlangga said President Joko Widodo (Jokowi) also ordered his staff to accelerate the development of the electric vehicle industry. President Jokowi, he said, wants Indonesia to be able to create an electric vehicle ecosystem, not only struggling with the production of raw materials such as cathodes or percussors.

That way, said Airlangga, Indonesia can compete with Thailand and other countries in developing the electric vehicle industry.

In a limited meeting this Monday, the government also set a macro assumption for 2024, namely:

- Economic growth 5.3-5.7 percent- Inflation 1.5-3.5 percent- The rupiah exchange rate is 14,800-15,400 per US dollar- The 10-year SBN interest rate is 6.5-7.4 percent- the ICP is 75-85 US dollars per barrel- oil production of 592,000 - 691,000 barrels per day- Gas production of 1.007 million - 1.058 million barrels of oil equivalent per day.- As for the development target, said Airlangga, it is the poverty rate of 6.5--7.5 percent, the Gini ratio of 0.36 - 0.37, and the unemployment rate of 3.6 - 4.3 percent.