Sri Mulyani Remains Upbeat Indonesia's Economy to Grow 5.2 Percent in 2024

TEMPO.CO, Jakarta - Indonesian Finance Minister Sri Mulyani Indrawati expressed optimism that the country’s economic growth will reach 5.2 percent in 2024. She made the statement in a working meeting with Commission XI of the House of Representatives (DPR) in Senayan on Tuesday, March 19, 2024.

“We are still maintaining our economic growth. Optimism for 2024 is at the level of 5.2 (percent), although we see a fairly high downside risk,” Sri said.

This year’s economic performance will be supported by consumption and investment. However, the downside risk of the global economy, which remains weak and highly uncertain, needs to be monitored.

Sri reflected on international institutions' projections of Indonesia's economic growth. The International Monetary Fund (IMF) estimated 5% growth, while the World Bank forecast 4.9% growth, the Organization for Economic Cooperation (OECD) forecast 5.1% growth, and the Bloomberg Consensus forecast 5% growth.

“It is clear that they recognize the downside risk, and it can be seen that the projected forecast is lower than our state budget assumption at 5.2 percent,” Sri explained.

As for next year's projections, she said Indonesia's economic growth was still not expected to improve as predicted by international institutions. "It is still around 5 percent or even lower. So this is something we need to continue to maintain, both optimism and a sense of realism," Sri Mulyani said.

ANNISA FEBIOLA

Editor’s Choice: Finance Minister Sri Mulyani Reports Alleged Fraud in Indonesia Eximbank Worth Rp2.5 trillion

Click here to get the latest news updates from Tempo on Google News