World Bank Estimates The Indonesian Economy will Grow by 4.9% in 2024

Author: Luthfie Febrianto
February 28, 2024

Ilustrasi uang rupiah. Photo : Pinterest

SEAToday.com, Jakarta - The World Bank (World Bank) assesses that Indonesia will be one of the countries whose economy continues to experience growth amidst uncertain global economic conditions.

Reporting from Antara News, for 2024, the World Bank estimates Indonesia's economic growth at 4.9% from the initial 5%. This revision was made because the World Bank is still adjusting to the current global economic uncertainty.

Head of the World Bank Representative for Indonesia and Timor-Leste, Satu Kahkonen, said "Currently we have updated our projections for the Indonesian economy, but we project that there will be a slight slowdown in the Indonesian economy from economic growth of 5 percent to 4.9 percent in this calendar year,"

Apart from that, the Coordinating Minister for Economic Affairs, Airlangga Hartanto, is also optimistic that Indonesia will achieve the economic growth target of 5.2% in 2024.

Reporting from BPS, in 2023 the Indonesian economy will grow by 5.05%. Although it is lower than the achievement in 2022 which reached 5.31%. However, Indonesia continues to show economic success which continues to grow amidst global economic uncertainty.

With these economic growth figures, Indonesia is ahead compared to Malaysia (3.77%), Mexico (3.1%), and Spain (2.5%).