BI Optimistic Of Elections To Encourage Indonesia's Economic Growth In 2024

Governor of Bank Indonesia Perry Warjiyo (third from the left). (Photo: Aris Nurjani/VOI)

JAKARTA - Bank Indonesia (BI) believes Indonesia's economic growth in 2024 will increase in the range of 4.7 percent to 5.5 percent.

BI Governor Perry Warjiyo revealed that Indonesia's estimated economic growth in 2024 will be in the range of 4.7 percent yoy to 5.5 percent yoy, higher than the estimated economic growth in 2023 which is 4.5 percent yoy to 5.3 percent yoy.

Perry said that in 2024, consumption performance, both private and government, and investment is predicted to continue to increase in line with public consumption confidence that remains strong.

In addition, another driver of economic growth next year is the general election event (Pemilu). So that it can be one of the drivers of the performance of household consumption growth.

"Positive impact from the implementation of next year's election," Perry explained at a press conference, Thursday, December 21.

Perry said that government spending will be high next year in line with the sustainability of the development of national strategic projects (PSN).

According to Perry, Bank Indonesia will continue to strengthen the synergy of the Government's fiscal stimulus with a macroprudential stimulus of Bank Indonesia to encourage economic growth, especially in terms of demand.

In addition, the policy synergy between Bank Indonesia and the Financial System Stability Committee (KSSK) is also strengthened in order to maintain financial system stability and encourage credit/financing to the business world, especially in priority sectors.