Government Expects Indonesian Economy to Grow 5.7 Percent in 2024

The Ministry of Finance has stated Indonesia's economic growth is expected to range between 5.3-5.7 percent in 2024.

IDXChannel - The Ministry of Finance has stated Indonesia's economic growth is expected to range between 5.3-5.7 percent in 2024.

According to Minister of Finance Sri Mulyani Indrawati, her ministry continues to monitor global and domestic risks at the present time and also in the future. 

"This target aims to create an inclusive and sustainable Indonesian economy," Sri told parliament members on Friday (19/5/2023).

She  explained a range of other macroeconomic indicators were also used for preparing the 2024 state budget draft.

"Inflation is projected to be around1.5-3.5 percent, then the rupiah exchange rate is projected to be around Rp14,700-15,300 per United States dollar (USD)," said Sri.

"For oil lifting, it is projected to be around 597,000-652,000 barrels per day, and gas lifting is around 999,000-1,054,000 barrels of oil equivalent per day," Sri explained.

The fiscal policy plan for 2024 is set to strengthen the Indonesian economy and national productivity through accelerating economic transformation.

"The spending policy in 2024 will be directed at completing strategic priority projects, including the construction of the IKN, fulfillment of basic infrastructure and connectivity, as well as holding the 2024 elections," said Sri. (WHY)