Coordinating Minister for Economic Affairs Airlangga Hartarto said that in the first quarter of 2024, Indonesia's economic growth was able to grow by 5.11 percent (YoY). This figure recorded the highest growth in the first quarter since 2015.
This was conveyed by Airlangga during a bilateral meeting with the Deputy Chancellor and Minister of Economics and Climate Action of the German Federal Republic YM Robert Habeck in Berlin Germany.
"The solid economic growth in the First Quarter was also confirmed by various Rating Institutions which provided positive assessments that Indonesia's economic resilience was maintained, supported by high and stable economic growth," he explained in his official statement, Monday, May 6.
According to Airlangga, the achievement of national economic growth is also of higher quality, as reflected in labor data as of February 2024 which was also released today. The number of people working increased by 3.55 million people to 142.18 million people compared to February 2023.
Meanwhile, the number of unemployed decreased by 0.79 million people to 7.2 million people compared to February 2023.
Furthermore, the proportion of formal workers increased to 40.83 percent, higher than February 2023 at 39.88 percent, which was mainly driven by the increase in workers with labor status, employees, or employees who grew by 2.66 percent (YoY).
With these various economic conditions, Airlangga said that Indonesia was able to become one of the countries that grew strongly and persistently was at a high level compared to a number of other countries such as Malaysia (3.9 percent), South Korea (3.4 percent), Singapore (2.7 percent), and Mexico (1.6 percent).
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"The growth in the national economy is also accompanied by a low and controlled inflation rate of 3.0 percent or lower than a number of other countries such as India (4.9 percent), Brazil (3.9 percent), and the Philippines (3.7 percent)," he said.
In addition, Airlangga conveyed that at the meeting, he also underlined the importance of resolving the IEU-CEPA negotiations in the near future, taking into account the principles of fair trade and prosperity.
Airlangga also raised issues related to the EU Deforestation Regulation (EUDR) policy, which needs to pay attention to the aspirations of countries that still have natural forests, as well as discussions on cooperation in developing semiconductor ecosystems in Indonesia.
In addition, Airlangga conveyed a meeting between the two largest economic countries in the ASEAN Region and the European Region, which also discussed various collaborations in the fields of Industry, Trade and Investment, Energy, and Human Resources Development.
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