Apindo Projects Indonesia's Economic Growth 2024 At 5.2 Percent, Here Are The Counts

Rupiah (Photo: Antara)

JAKARTA - The Indonesian Employers' Association (Apindo) projects that Indonesia's economic growth will reach around 4.8-5.2 percent in 2024.

"Apindo estimates that Indonesia's economic growth will be in the range of 4.80 percent to 5.20 percent," said Apindo Chairman Shinta Kamdani in Jakarta, Monday, February 5.

Shinta assessed that this was due to the persistence of the trend of slowing world growth and Indonesia.

"The projection for Indonesia's economic growth range is in the range of 4.80 percent to 5.20 percent based on the trend of slowing down the global economy due to geopolitical pressures and inflation and interest rates which are still high," he said.

In addition, said Shinta, currently Indonesia's employment structure is still positive compared to 2022.

Based on BPS data in August 2023, the working age population increased by 3.17 million people followed by an increase in the workforce by 3.99 million people and the number of people working to 139.8 million people or employment increased by 4.55 million people.

Although the unemployment rate is still high, which is 7.86 million people. However, the number of unemployed people decreased by 0.56 million people in a year (August 2022-August 2023).

"However, the situation faced will be challenging in the midst of an economic slowdown," he said.

According to Shinta, the economic slowdown could have a significant impact on employment. During the slowdown period, the company tends to reduce production and investment which can result in labor cuts.

"In the midst of the economic slowdown, the challenge that may be faced is the increase in unemployment because the available jobs and the opening of new jobs in various economic sectors are limited," he added.