The government said it remains optimistic that economic growth this year will meet the target of 5.1% to 5.2%. This was stated even after economic data for the second quarter of 2024 showed a slowdown.
“Outlook “We are around 5.1% to 5.2%, there is still a chance. The stability of the national economy so far also leads to economic growth in that range,” said Head of the Fiscal Policy Agency of the Ministry of Finance Febrio Nathan Kacaribu to reporters at his office, Jakarta, Tuesday (6/8).
Based on data from the Central Statistics Agency (BPS), the Indonesian economy in the second quarter of 2024 grew 5.05% annually (year on year/yoy). This figure is lower or slower than the previous quarter’s achievement of 5.11% (yoy).
On a quarterly basis (quarter to quarter/q to q) the economy in the second quarter grew 3.79%, better than the realization of the first quarter which was recorded at -0.83% (q to q). Meanwhile, if viewed in the current year, aka one semester, the Indonesian economy still grew 5.08%.
Febrio said, it was a positive achievement. Because many countries are currently having difficulty boosting the pace of the economy due to global conditions. “If we can maintain this condition, it will certainly be capital for us to continue to grow,” he concluded.
It is known that the economy of several of Indonesia’s main trading partners also recorded positive performance in the second quarter of 2024. China was recorded to have grown by 4.7% (yoy); United States 3.1% (yoy); South Korea 2.3% (yoy); India 7.1% (yoy); Malaysia 5.8% (yoy); and Singapore 2.9% (yoy). (Z-11)
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