ER
BANK INDONESIA (BI) estimates that Indonesia’s economic growth in 2024 will be in the range of 4.7 percent to 5.5 percent thanks to the performance of the domestic economy.
“Economic growth in 2024 is projected to be in the range of 4.7 percent to 5.5 percent,” BI Governor Perry Warjiyo said at a press conference on the results of BI’s Board of Governors (RDG) meeting in Jakarta on Wednesday (07/17), 2024.
He said household consumption and investment drove the performance of gross domestic product (GDP) in the second quarter of 2024. Exports of goods increased, driven by an increase in exports of manufactured and mining products, especially metals and metal ores and steel, to major trading partners such as India and China.
In terms of industries, economic growth is mainly supported by manufacturing, construction, and wholesale and retail trade.
Spatially, strong economic growth is projected in most regions, with the highest growth in Sulawesi-Maluku-Papua (Sulampua), Bali-Nusa Tenggara (Balinusra) and Kalimantan.
Against this backdrop, economic growth is expected to remain strong in the third and fourth quarters. This positive outlook is also supported by plans to increase fiscal stimulus from 2.3% to 2.7% of GDP, as well as rising export performance with increasing demand from major trading partners.
The BI stated that it will continue to strengthen the synergy between the government’s fiscal stimulus and the BI’s macroprudential stimulus. In this way, economic growth can be encouraged to remain sustainable, especially from the demand side.
BI also continues to strengthen policy coordination with the government to mitigate the impact of the risk of high global uncertainty. Policy coordination with the government (central and regional) is carried out through the National Food Inflation Control Program (GNPIP) in various regions within the Central and Regional Inflation Control Team (TPIP and TPID). [antaranews]
