RI Is Considered To Need IDR 1,000 Trillion To Speed Up 8 Percent Economic Growth

Rupiah (photo: dock. Antara)

JAKARTA - Indonesia needs additional funds of IDR 1,000 trillion per year in the Gross Domestic Product (GDP) ratio to realize 8 percent economic growth.

"To grow 8 percent, Indonesia's GDP must increase by Rp1,000 trillion from the value of GDP 2024," said Institute for Development of Economics and Finance (Indef) researcher Ahmad Heri Firdaus quoting Antara.

He said, so far the Indonesian economy has only grown by about 5 percent or the equivalent of Rp600 trillion in one year. Therefore, to optimize national economic growth, an economic strategy is needed that focuses on strengthening the service and industrial sectors, while still supporting the agricultural sector.

His party has made a sectoral growth scenario that will contribute to increasing GDP ratio income.

For the agricultural sector, growth is needed at 6.07 percent per year, mining and excavation 8.05 percent, processing industry 8.35 percent, electricity and gas procurement 7.05 percent, construction must grow 7.1 percent, trade large and retail 8.83 percent, and financial services and insurance 6.24 percent.

If you look at Indonesia's previous economic growth, which in 2024 grew by 5.03 percent, this figure has slowed down by 0.02 percent on an annual basis (year on year / YoY) or 5.05 percent in 2023.

"The main challenges in accelerating the current economy include slowing purchasing power and limited market access," he also said.

Previously, the Minister of National Development Planning/Head of the National Development Planning Agency (PPN/Bappenas) Rachmat Pambudy said that it was not impossible that eight percent economic growth in 2029 could be achieved.

"It is not impossible for the eight percent economic growth to be achieved. Indeed, in the end, the fundamental problems that will test us whether eight percent economic growth is achieved or not," he said at a Working Meeting with Commission XI DPR RI, Jakarta, smoothly (13/3).

According to him, the important thing that must be emphasized to achieve economic growth is to synergize and cooperate in order to reduce conflicts and differences of opinion in order to reduce noise.

That way, the process of achieving high economic growth can run smoothly.