Indonesia’s GDP Projected to Rise in 2024

Speaking at a press conference in South Jakarta on Wednesday (27/3/24,) Johanna Gani, CEO of Grant Thornton Indonesia, predicts that Indonesia’s gross domestic product (GDP) will see 5.3 to 5.7 percent growth in 2024. Together with Katadata Insight Center, the projection was revealed in the Unraveling Indonesia Prospects in 2024 report, according to reporting from Tempo.

“The growth was driven by a wave of spending triggered by the 2024 elections and the push from a growing middle class,” said Gani, who also saw an increase in investment trends amid global economic pressures. Meanwhile, Indonesia’s investment sector shows promising prospects, especially regarding the development of Nusantara Capital City or IKN.

Gani said that the transition of President Jokowi’s term of office to the next president had an impact on the ‘wait and see’ attitude among some investors even though investment interests remained and introduced the term “New Era of Nickel” as the mining sector, particularly nickel, promises investment opportunities along with the electric vehicle (EV) revolution, says Tempo.

“Policy continuity is expected from the newly elected government, focusing on economic stability and development, while maintaining the policies that have been implemented previously,” she said.

Five leading provinces promising investment potential, according to Gani include North Maluku, Central Sulawesi, East Kalimantan, West Java, and Riau, according to Tempo.

“Each province has a unique and promising economic landscape, offering a variety of investment opportunities in Indonesia,” she said.

 

Source: Tempo

Stock image by Tom Fisk on Pexels 

 

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