Minister of Finance (Menkeu) Sri Mulyani revealed that the direction of fiscal policy in 2024 will continue to encourage various transformations to bring Indonesia to become a high income country.
According to the Minister of Finance, the requirements to become a developed country must be met through several indicators, such as an increase in gross domestic product (GDP), a life expectancy, a reduced unemployment rate, to the contribution of the manufacturing sector which must continue to be strengthened.
"To be able to be separated from the middle income trap and become a high income country, Indonesia must be able to grow quite high," he said in a working meeting with Commission XI of the DPR regarding the discussion of the 2024 RAPBN, Monday, June 5.
The Minister of Finance explained that for the next government period 2025-2029, economic growth must be close to 6 percent or more precisely 5.9 percent.
"Then for the next period 2030-2039, it is 6.9 percent and 2040 to 2044, it is hoped that economic growth will be 5.1 percent," he said.
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The state treasurer explained that extra hard efforts were needed to accelerate economic transformation so that high growth could be achieved inclusively and sustainably.
"This will get Indonesia out of the middle income trap before 2045," he said.
VOI noted that national economic growth continued its strengthening trend by posting a figure of 5.03 percent year on year (yoy) in the first quarter of 2023. The score was quite good because the world situation was still filled with uncertainty and declining outlooks.
Meanwhile, Indonesia's economic growth throughout last year was 5.31 percent. Meanwhile, the 2024 RAPBN set a growth range of 5.3 percent to 5.7 percent.
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