Potential for Increasing Indonesian Economic Growth
The Indonesian economy has demonstrated extraordinary resilience in facing global challenges. Compared to other countries, the Indonesian economy is relatively resilient, able to survive and even grow amidst uncertain global turmoil.
Factors such as the success of managing inflation within the target set by Bank Indonesia, namely 1.5-3.5 percent, have provided a strong foundation for sustainable economic growth.
In 2024, Indonesia has the potential to increase consumption significantly in line with the implementation of a series of democratic processes, including elections, presidential elections, legislative elections and regional head elections.
This democratic process not only provides political momentum, but also encourages economic activity through increased consumption which is accompanied by a spirit of change and new hope.
Not only that, with the achievement of the medium-term development target which has been completed in 2024, Indonesia is entering a new phase in its development journey. Successfully achieving these targets provides a solid foundation for further and sustainable economic growth.
The return of investor confidence is also a key driver in encouraging economic growth. The election of a new leader has brought fresh air to the market and raised optimism among investors. This is reflected in increasing investment inflows which bring the potential for higher economic growth in the future.
In addition, the potential for continued downstreaming of superior commodities provides a great opportunity for the Indonesian economy to increase the added value of products and reduce dependence on exports of raw materials. By downstreaming, Indonesia can expand its international market share and increase its competitiveness in the global market.
Even though Indonesia has strong capital for sustainable economic growth, challenges remain ahead. Commitment and strategic steps are needed to overcome global uncertainty, address internal economic inequality, and ensure inclusive and sustainable growth for all levels of society.
Source : Bappenas
