The Indonesian Central Statistics Agency (BPS) recorded that Indonesia’s economic growth in the first quarter of 2024 was at the level of 5.11 percent on an annual basis (yoy). Responding to this, Member of Commission XI DPR RI, Anis Byarwati, said that there were still challenges regarding Indonesia’s economic conditions in the future. According to Anis, the situation will really depend on how the government responds to the current global situation, so that the domestic economy can continue to grow well.
“The ASEAN region is relatively more stable and under control, we can even say that the ASEAN region is the most prospective region compared to other regions in the world. I estimate that several ASEAN countries can achieve growth of 5-6 percent. So Indonesia is part of the stable and promising ASEAN economic growth in 2024, although not the highest,” he said, Saturday (11/5).
Anis also reminded that global economic and financial conditions greatly influence the national economy. He then touched on the impact experienced by the international world following Covid-19. “After Covid-19, the global economy was faced with the problem of an escalating geopolitical situation in many regions simultaneously, plus the weakening of the Chinese economy and the FED’s high interest rate policy,” he said.
According to this PKS faction member, Indonesia has experienced three things that have become an economic nightmare simultaneously. The series of horrors include, among other things, inflation, high interest rates and stagnant economic growth, plus the weakening of the exchange rate.
“If we cannot anticipate this, the impact will be felt on the real sector, people’s purchasing power and ultimately slow economic growth,” continued the deputy chairman of the DPR RI’s State Financial Accountability Agency (BAKN).
According to Anis, a successful transition of power is key and something that must be realized. The previous government must be able to delegate work to the new government. The government in the future can also place the best figures in their fields and not just accommodate political interests, especially if it ends up burdening and weakening the Government itself.
“I see two things that must be addressed by the new government, first, strengthening industrial policy so that it has a significant contribution to GDP. Second, improving the organization and taxation system which supports state revenues,” he concluded.
Reporting from the Central Statistics Agency website, the Indonesian economy in Quarter I-2024 versus Quarter I-2023 grew by 5.11 percent (y-on-y). When compared with the previous quarter, the Indonesian economy in the first quarter of 2024 actually experienced a contraction of 0.83 percent (q-to-q). (DPRRI/Z-6)
#Stability #Power #Transition #Important #Key #Facing #Global #Economic #Turmoil
