Sri Mulyani Is Confident That Indonesia's Economy Will Grow 5.2 Percent In 2024

KSSK (Photo: Aris Nurjani/VOI)

JAKARTA - The Financial System Stability Committee (KSSK) estimates that Indonesia's economic growth in 2023 will be in the range of 5 percent and in 2024 it will grow at 5.2 percent.

Finance Minister Sri Mulyani Indrawati, said that in 2023 economic growth will still grow in the range of 5 percent driven by strong consumption and investment, along with the relatively stable inflation rate in the lower range of the 2023 target of around 3 percent plus minus 1 percent.

"People's consumption activities are still strong, supported by a relatively controlled inflation rate and also a decrease in the unemployment rate and the role of the APBN which was actively carried out in 2023 as a shock absorber that continues to maintain the purchasing power of our society," said Sri Mulyani during a press conference on the results of the 2024 Financial System Stability Committee (KSSK) periodic meeting. 2024, Tuesday January 30, 2024.

Sri Mulyani said that in the fourth quarter of 2023 the economy was still well maintained as reflected in the Purchasing Managers Index (PMI) which was still above 50, meaning that it was in the expansion zone.

The state treasurer added that Indonesia's trade balance surplus was still maintained for 44 consecutive months. Where throughout 2023, Indonesia's trade balance surplus reached 36.93 billion US dollars. Then retail sales and the Consumer Confidence Index (IKK) are still stable and strong.

"With these developments, it is estimated that economic growth in 2023 will still survive in the range of 5 percent. For 2024," said Sri Mulyani.

As for the projected economic growth in 2024, Sri Mulyani estimates that it will still increase to 5.2 percent, supported by the activities of holding the 2024 General Election which will increase the consumption of the government, society, and Non-Profit Institutions that Serve Households (LNPRT).

In addition, continuing the work on national strategic projects (PSN) will also boost economic growth.

"We hope that it will have a positive impact on consumption activities, government consumption in the implementation of the election itself, as well as from the community as well as the continued implementation and completion of national strategic projects in 2024," he explained.