Indonesia optimistic about economic growth in 2024
The Indonesian government is optimistic that the country will achieve its target of 5.1–5.7% economic growth in 2024 amid the projected global economic slowdown.
Indonesian Secretary of the Coordinating Ministry for Economic Affairs Susiwijono (Photo: en.antaranews.com)
Jakarta (VNA) – The Indonesian government is optimistic that the country will achieve its target of 5.1–5.7% economic growth in 2024 amid theprojected global economic slowdown.
Secretary of the Coordinating Ministry forEconomic Affairs Susiwijono has said the government remains optimistic that in2024, the country’s economic growth will still be better than 2023, even withthe correction of global economic growth to 2.4%
He revealed that allinternational organisations have projected that the global economy will experiencea slowdown in 2024. The World Bank (WB) has forecast that globaleconomic growth will slow from 2.6% in 2023 to 2.4% in 2024. Likewise, in theOctober 2023 edition of the World Economic Outlook (WEO) report, the International Monetary Fund (IMF) projectedthat global growth will decline to 2.9% in 2024.
According to Susiwijono, the projected globalgrowth slowdown can be attributed to several factors, such as heatedgeopolitical rivalries, which have led to supply chain disruptions. The otherfactors include climate change and the tightening of monetary policy indeveloped countries.
He said that the purchasing power of thecommunity must be maintained. Therefore, it is necessary for the government tocontinue the social assistance programme in 2024.
In December 2023, the government provided riceassistance to 21.3 million beneficiaries. It also doled out cash assistance of 200,000 IDR (12.83 USD) per month from November to December 2023 to a total of18.8 million targeted beneficiaries.
To strengthen micro, small, and mediumenterprises (MSMEs) amid high interest rates, the government encouraged theaccelerated disbursement of low-interest people's business credit (KUR) throughweekend banking services to reach the target of 297 trillion IDR in 2023.
He underlined that what needs to be anticipatedin 2024 is the impact of the expected global economic slowdown on sectors thatrely on the global market, such as Indonesian furniture exports./.
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Indonesian Secretary of the Coordinating Ministry for Economic Affairs Susiwijono (Photo: en.antaranews.com)
