The 2024 State Budget Aims For 5.3 To 5.7 Percent Economic Growth

Illustration (Photo: Doc. Ministry of Finance)

Minister of Finance (Menkeu) Sri Mulyani said that the government has compiled basic macro assumptions and targets for the 2024 development indicator as a basis for designing the State Revenue and Expenditure Budget (APBN) next year.

This was conveyed by the Minister of Finance during the Central Development Coordination Meeting (Rakorangpus) today.

In his view, next year's economic condition is considered to be better after passing the peak period of high inflation even though it is still shrouded in uncertainty.

On that basis, the state treasurer compiled the 2024 State Budget to remain on the positive track with a more aggressive pace.

"The basic assumption of macroeconomic growth in 2024 is estimated at 5.3 percent to 5.7 percent," he said through a digital channel on Thursday, April 6.

The Minister of Finance explained that another thing that became the initial projection was inflation of 1.5-3.5 percent, an exchange rate of Rp14,800-Rp15,400 per US dollar, an SBN interest rate of 10 years 6.5-7.4 percent.

Then, the price of Indonesian crude oil is 75-85 US dollars per barrel, oil lifting is 592,000-651,000 bhp. And gas lifing is 1,007,000-1,058,000 boepd.

"We hope that oil and gas lifting will be maintained," he said.

Meanwhile, the development indicator consists of a poverty rate that is sloping by 6.5 percent, the Gini ratio is reduced to 0.374, the open unemployment rate is 5-5.7 percent.

Then the exchange rate of 105-108 farmers, the human development index 75.54, and the fishermen's exchange rate 107-110.

"Not only growing, but we want poverty, unemployment to decrease, equity is getting better," he said.

Meanwhile, the direction of fiscal policy in 2024 is to accelerate an inclusive and sustainable economic transformation.