Heaptalk, Jakarta – House of Representatives, specifically IX Commission, and Bank Indonesia agreed to degrade the target of Indonesia’s economic growth in 2024, from 5.3-5.7% to 5.1 – 5.7%. This target is shifting due to the sluggish economic growth which is estimated will continue next year.
The Ministry of Finance Sri Mulyani during a working meeting with XI Commission stated, “The revision of the bottommost target occurred due to the rise of economic risk. Multiple international institutions have warned about the sluggish economic growth in the second semester, we are afraid that it would continue next year.”
On top of that, the currency exchange rate estimation also is revised, from Rp 14,700- Rp 15,300/USD. This correction is based on Bank Indonesia’s assessment which are optimistic toward the enhancement of Rupiah’s performance.
Basic assumption
Economic growth 5.1%-5.7%
Inflation 1.5% – 3.5%
Rate of State Bonds’ interest 6.49% – 6.91%
Target and indicator of development
Poverty level 6.5%-7.5%
Unemployment rate 5-5.7%
Gini index 0.374-0.377
Human Capital Index 73.99-74.02
