Airlangga Optimistic Economic Growth 2024 Capai Target

Coordinating Minister for Economic Affairs (Menko) Airlangga Hartarto. (Photo: Aris Nurjani/VOI)

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto is optimistic that Indonesia's economic growth will reach 5.1 percent in 2024 despite facing a number of global risks and uncertainties.

According to Airlangga, the 2024 economic growth target was achieved, driven by various government policies that encourage consumption activities such as discounts on cheap spending towards the end of the year.

"Indonesia is still able to maintain economic growth. We hope to maintain growth last year at around 5 percent," he said at the IBC Business Competitiveness Outlook 2025 event, Monday, January 13.

In addition, Airlangga said that Indonesia's economic growth was still well maintained when compared to neighboring countries such as Thailand at around 3 percent, and South Korea at 1.5 percent.

"If we look at the indications of PMI in December, we are in a growth where the expansion is at 51.2 percent. In addition, the consumer index and the real sales index also grew positively," he said.

Airlangga added that investment realization in the third quarter of 2024 reached Rp431.38 trillion, along with improving the competitive index based on the IMD Global Competitiveness Index which was ranked 27, compared to the previous 34 in 2023.

He said there are several programs that can encourage economic growth at the end of the year such as free homecoming programs, plane ticket discounts, National Online Shopping Day (Harbolnas), the 2024 Indonesia Aja (BINA) Discount Shopping Program, and the food price stabilization program.

With these various programs, Airlangga said that the value of transactions carried out by the community had a drastic increase, namely the transaction value of the Harbolnas program reaching IDR 31.2 trillion, an increase of 21.4 percent compared to 2023.

Then the transaction value of the BINA program amounted to IDR 25.4 trillion, an increase of 15.5 percent compared to the previous year and the EPIC Sale program of IDR 14.9 trillion, an increase of 14.9 percent compared to last year.

"Last year we made several programs ahead of Christmas which are known in other countries such as in the US there is Black Friday. But Indonesia, we don't have Black Friday, we only have Friday Blessings," he said.