Sri Mulyani: Elections Will Help Push Indonesian Economy to Grow 5.2% in 2024

January 31, 2024, 06.21 AM | Reporter: Bidara Pink

ILUSTRASI. Menteri Keuangan Sri Mulyani optimistic that Indonesia's economic growth in 2024 will break through 5% year-on-year, despite global uncertainties.

MACROECONOMICS - JAKARTA. The conduct of the general election (election) in 2024 will be one of the boosters of Indonesia's economy this year.

The government is also optimistic that Indonesia's economic growth in 2024 will reach 5% yoy, even amid global uncertainty.

“We believe, Indonesia's economic growth in 2024 will grow to reach 5.2% yoy,” stated Finance Minister Sri Mulyani in a press conference, Tuesday (30/1) in Jakarta.

Indonesia's economic growth in 2024 is also believed to increase compared to the government's economic growth outlook for 2023 which is around 5.0% yoy.

Sri Mulyani said, economic growth in 2024 is driven by the conduct of the general election which falls in February 2024.

This five-year democratic party will boost consumption, both household consumption and community consumption.

In addition, various ongoing national strategic projects (PSN) will also boost domestic economic growth.

However, Sri Mulyani will still monitor various global risks. Such as, economic weakening in several main countries, increasing geopolitical tensions and global fragmentation, as well as increasing fiscal pressure in many countries.