President Jokowi Upbeat on 2024 National Economy

President Joko “Jokowi” Widodo delivers remarks at Indonesia’s Economic Outlook event at the Astor Ballroom of the ST Regis Hotel, South Jakarta, Thursday (12/22). (Photo by: Oji/PR of Cabinet Secretariat)

As the countdown to 2024 begins, President Joko “Jokowi” Widodo underlined the importance of unwavering consistency, dedicated hard work, and collaborative efforts as the driving force for the nation’s economic and political landscape next year.

“The economic outlook for Indonesia in 2024 is highly optimistic, driven by positive indicators in economic performance and a favorable political climate leading up to the 2024 election. The key factors contributing to this optimism include consistent hard work, synergistic collaboration between the Government and the private sector, and a commitment to sustainable efforts,” the President said in his remarks at Indonesia’s Economic Outlook event at the Astor Ballroom of the ST Regis Hotel, South Jakarta.

From an economic standpoint, the President stated that the Indonesia’s economy is anticipated to maintain robust growth within the five percent range throughout the quarter of 2023, with inflation values significantly below the global average and various other economic indicators also showing positive figures.

“Labor absorption is expected to rise by 4.5 million people from August 2022 to August 2023. The country’s manufacturing purchasing managers index (PMI) in November 2023 remains at an expansionary level of 51.7 percent, indicating continued growth. The trade balance has maintained a surplus for 43 consecutive months, and the Consumer Confidence Index in November stood at a robust 123.6, reflecting strong confidence in our economic conditions,” he said.

While expressing optimism that economic growth in 2024 will stand at around five percent, the Head of State emphasized the need for continued caution and alertness in light of the ongoing global uncertainty.

“As the Javanese saying goes, ‘stay alert and be vigilant.’ It is crucial to always bear in mind the importance of being cautious and alert. With the ongoing global uncertainty and the potential for conflicts in the Middle East that could lead to a surge in global oil prices, staying vigilant becomes even more imperative,” he added.

On this occasion, The President also urged all stakeholders to consistently attract domestic and foreign investors, emphasizing that the focus of investments should be on delivering added value to the country.

“Promote downstream investments across key sectors such as minerals, agriculture, fisheries, marine, and plantations, as well as strengthen the digital economy, green economy, and the blue economy,” the President remarked. (BPMI of Presidential Secretariat) (RIF/MUR)