Standard Chartered Economic Growth Projection Of The Republic Of Indonesia 2024 5.2 Percent

Rupiah (Photo: Antara)

JAKARTA - Standard Chartered estimates Indonesia's economic growth in the range of 5.1 or 5.2 percent in 2024.

"Our GDP (Gross Domestic Product) from 5 percent last year to 5.1 or 5.2 percent (this year)," said Cluster CEO of Indonesia and ASEAN Markets (Australia, Brunei and the Philippines) Standard Chartered Bank Indonesia Rino Donosepoetro quoting Antara.

At the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) meeting in April 2024, he said that Indonesia was always discussed in these various meeting events because it had good foreign direct investment potential.

Starting from potential green energy transition investment (green transition), health care services, to global supply chains.

"So indeed Indonesia plays a very important part, especially since we are also the largest economy in South East Asia. So no doubt, as long as we view, we are very bullish on Indonesia. Bullish means we really believe Indonesia's economic growth going forward," he said.

As Chairman of the Indonesia British Chamber of Commerce (Britcham), Rino also stated that British companies such as Unilever, British Petroleum (BP), Premier Oil, Shell, AstraZeneca, and GlaxoSmithKline (GSK) see Indonesia as a very large market, especially the prospects of the digital economy and the green energy transition.

He also assessed that the 2024 Golden Indonesia Vision would be a reality if you saw what Indonesia had done today, for example related to downstreaming policies, critical mineral sources, to nature-based solutions such as carbon credit.

"So indeed Indonesia has extraordinary potential. Therefore, the Standard Chartered position, basically we will help Indonesia's economic growth and for Indonesia to realize this potential with several things that are our business focus," said Rino.

Standard Chartered also predicts the rupiah exchange rate against the United States (US) dollar at the end of 2024 to be IDR 15,750.

"Yesterday we under pressure from the dollar, it's getting better now. But we believe at the end of the year, the fundamentally rupiah will continue to improve because the fundamental economic condition is indeed good. Our figure is that at the end of the year is 15,750. So the way to improve between now and the end of the year," he said.