Indonesia's GDP Projected to Rise in 2024

TEMPO.CO, Jakarta - Grant Thornton Indonesia estimates that Indonesia's gross domestic product (GDP) will see a 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.

"The growth was driven by a wave of spending triggered by the 2024 elections and the push from a growing middle class," said Grant Thornton Indonesia CEO Johanna Gani during a press conference in South Jakarta, Wednesday, March 27, 2024.

Johanna 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.  

Johanna mentioned that the transition of President Joko Widodo or 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.

Furthermore, Johanna introduced the term "New Era of Nickel" as the mining sector, particularly nickel, promises investment opportunities along with the electric vehicle (EV) revolution. 

"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 Johana. The five provinces consist of North Maluku, Central Sulawesi, East Kalimantan, West Java, and Riau. 

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

SAVERO ARISTIA WIENANTO

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