Politics
Hit by Xi Jinping-Trump, Sri Mulyani remains confident in the growth of the Indonesian economy by 5%
Jakarta, CNBC Indonesia – The Ministry of Finance (Kemenkeu) estimates that Indonesia's economic growth in the fourth quarter of 2024 will remain maintained at the level of 5%. This was stated by Minister of Finance Sri Mulyani Indrawati at the APBN 2024 press conference, Monday (6/1/2025).
“For the fourth quarter, we are still waiting for the BPS data, we still estimate that it will remain maintained at around 5 percent (economic growth),” Sri Mulyani said.
Growth in the fourth quarter will certainly be better than that of the third quarter of 2024, which grew by 4.95%. In fact, this result is quite positive amid the pressure of global uncertainty following the election of Donald Trump in the US presidential election and the weakening of the Chinese economy, as well as several countries in Europe which has fallen to the brink of crisis, such as Germany, England and France.
At the same time, growth in the fourth quarter was driven by the government's budget execution, as well as concurrent regional elections. “The various government budgets implemented in the APBN, including in the fourth quarter, constitute a transition from the government resulting from the elections,” he said.
At the end of the fourth quarter, Indonesia's manufacturing PMI improved to 51.2. Thus, Sri Mulyani emphasized that the whole year should be at the level of 5%.
In the fourth quarter, Sri Mulyani said several community well-being indicators were monitored to be maintained. “The Indonesian labor market is also improving. We see that the number of job creations in the corporate sector is also improving,” Sri Mulyani said.
In 2024, the number of workers in the field will be 40.8 million people, higher than the 39.5 million people in 2023. Then, the agricultural exchange rate also shows improvement, despite the pressure in the agricultural sector with El-Nino. The agricultural exchange rate (NTP) improved from 118.27 to 122.78.
In terms of Gini ratio and unemployment rate, Sri Mulyani said there was good news.
“Various improvements and risk mitigation measures have been made by the APBN despite the constant pressure of declining poverty levels, both overall poverty and extreme poverty,” Sri Mulyani said.
“The Gini ratio will also improve from 0.388 to 0.379 in 2023 and the unemployment rate will also decrease from 5.32% to 4.91%,” he pointed out.
(haa/haa)
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Sources 2/ https://www.cnbcindonesia.com/news/20250106105901-4-600973/dihantam-xi-jinping-trump-sri-mulyani-masih-pede-ekonomi-ri-tumbuh-5 The mention sources can contact us to remove/changing this article |
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