Heaptalk, Jakarta — The Financial System Stability Committee (KSSK) is optimistic that Indonesia’s financial system stability will remain intact in the second quarter of 2024 despite global economic turmoil.
“Financial system stability in Q2-2024 remains intact amid increasing pressures in global financial markets, global economic uncertainty, and high geopolitical risks,” said Finance Minister Sri Mulyani Indrawati, who also serves as Chair of the KSSK.
Furthermore, she stated that goods export also appears to increase, boosting the trade balance surplus. The former Managing Director of the World Bank voiced, “Our goods exports are expected to increase, especially in Q2 for manufactured goods and mining exports, particularly to two emerging market destinations that now play a very significant role, namely India and China.”
“We benefit from India’s healthy and relatively high economic growth,” she added. Domestic economic activity will continue until the end of 2024. The government will optimize the 2024 state budget policy, particularly in terms of government spending focused on maintaining price stability since this is crucial for determining people’s purchasing power. Consumption is an important component of national economic growth.
Sri uttered, “We will also continue to implement social protection programs, especially for vulnerable communities, so that their impact on purchasing power and public consumption can be maintained.” According to the KSSK, this increase in domestic economic activity will continue until the end of 2024.
