Bappenas Projects Economy to Grow Stronger in 2024

Speaking during the 2023 Indonesia Economic Report launch on Wednesday (31/1/24,) Amalia Adininggar Widyasanti, Deputy of Economic Affairs at the Ministry of National Development Planning/National Development Planning Agency (Bappenas), said that Indonesia’s economy in 2024 would grow better than in 2023 despite the trend of a slowdown in the global economy, according to reporting from Antara News.

The Indonesian government targets the national economy in 2024 to grow by 5.3-percent, higher than the 2023 economic growth projection set at 5.1-percent.

Widyasanti said that Indonesia has a solid foundation to develop a stronger economy in 2024 despite uncertainty looming over the global economy and its divergence that is expected to continue in the upcoming years, say Antara News, adding that the Organisation for Economic Cooperation and Development (OECD) also forecast Indonesia’s economy in 2024 to grow better than in 2023.

“This is a positive sign that the global community believes that Indonesia can recover and maintain its economic growth in the five-percent range, returning to the pre-COVID-19 pandemic growth level,” Widyasanti said.

Meanwhile, Governor of Bank Indonesia (BI) Perry Warjiyo highlighted the need to remain vigilant while being optimistic in 2024 as well as to enhance synergy between economic policies and efforts to strengthen national economic resilience in 2024, say Antara News.

BI projected Indonesia’s economy in 2024 to grow by 4.7 to 5.5-percent, provided that internal and external economic stability are preserved.

Warjiyo is also optimistic that inflation would be manageable to the expected target of 2.5-percent, give or take one percent; banking credit would grow by 10 to 12-percent; and the exchange rate of the rupiah would improve in 2024, according to Antara News.

 

Source: Antara News

Stock photo by Bayu Syaits on Unsplash

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