BI Predicts Indonesia's 2024 Economy To Grow Up To 5.5 Percent

BI Governor Perry Warjiyo (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) estimates that Indonesia's economic growth in 2024 is predicted to be in the range of 4.7 percent to 5.5 percent. The upper limit for Indonesia's economic growth has shot up far from the government's assumption in the 2024 State Budget of 5.2 percent.

BI Governor Perry Warjiyo said Bank Indonesia would continue to strengthen the synergy between the Government's fiscal stimulus and Bank Indonesia's macroprudential stimulus to support sustainable economic growth, especially in terms of demand.

Perry said that Gross Domestic Product (GDP) in the second quarter of 2024 was supported by household consumption and investment.

"Exports of rising goods are driven by an increase in exports of manufactured and mining products, especially metals and metal ore, as well as steel, to major trading partner countries, such as India and China," he said at a press conference, Wednesday, July 17.

Meanwhile, based on the business field (LU), economic growth is mainly supported by the LU Industry for Processing, Construction, and Large and Retail Trade.

Perry menyampaikan secara spatial, pertumbuhan ekonomi yang kuat diprakirakan terjadi di mayoritas wilayah, dengan pertumbuhan tertinggi di Sulawesi-Maluku-Papua (Sulampua), Bali-Nusa Tenggara (Balinusra), dan Kalimantan.

"Economic growth in the third quarter and fourth quarter of 2024 is predicted to remain good, with plans to increase fiscal stimulus from 2.3 percent to 2.7 percent of GDP as well as export performance which increases with increased demand from major trading partners," he said.