Gov’t Pushes Year-End Consumption, Expects 5 Percent Growth

President Prabowo chairs a Plenary Cabinet Meeting held at the State Palace, Jakarta, on Monday (12/15). At the meeting, Coordinating Minister for Economic Affairs Airlangga Hartanto gives a report on the current national economic condition. (Photo by: Bureau of Press, Media, and Information of Presidential Secretariat)

President Prabowo Subianto chaired a Plenary Cabinet Meeting held at the State Palace, Jakarta, Monday (12/15). During the meeting, Coordinating Minister for Economic Affairs Airlangga Hartanto reported the current condition of national economy, including macro economy indicator, efforts of boosting year-end consumption, and enhancement of family economic welfare.

Coordinating Minister Airlangga mentioned that up to the end of 2025, national macro economy indicator is in a good and stable state. “The macro indicator situation is still good until the end of the year, Mr. President, including stock market index that reaches an all-time high, it went up to 20 percent since January, Mr. President. It is among the highest ones in Asia,” Airlangga said.

The Coordinating Minister further explained that trade balance and ongoing transactions have recorded a surplus, and foreign exchange reserves are at a high level. In addition, national credit growth remains positive and supported by a strong liquidity that will make a positive impact to the economy in the next year.

“The positive aspects shown by positive credit growth of 7.36 percent, and the premier cash that has been distributed by Minister of Finance is also high, sir. The growth is at 13.3 percent, amounting to Rp2,136 trillion. In the next year, the impact will be positive, Mr. President. So, insya Allah, this year’s target of 5.2 percent can be achieved, and, insya Allah, in the fourth quarter, it will reach above 5.4 percent, Mr. President,” the Coordinating Minister went on.

Meanwhile, to maintain the growth momentum, the Government encourages public consumption through many Christmas and New Year’s programs, be it through online shopping or national retail shopping. Additionaly, tourism sector is also driven by various national agenda during December.

“There are 37 events this December, so it will push Indonesian people’s movement, Mr. President,” he said.

In order to support people’s mobility during the year end’s holiday, Coordinating Minister Airlangga also suggested work flexibility policy. “We suggest work from anywhere and everywhere,” he said.

Concluding his report, Coordinating Minister mentioned about the enhancement of family economic welfare by transforming the National Board of Inclusive Finance to the National Board of Financial Welfare, and increased national financial inclusion. “Our financial inclusion has made a good achievement by reaching 92.7 percent. Financial literacy is at 66.4 percent, compared to OECD countries that reach 62 percent in average,” he stated. (Bureau of Press, Media, and Information of Presidential Secretariat) (AW/MMB)