Indonesia Sets 5.3%-5.7% Economic Growth Target for 2024

JAKARTA, KOMPAS.com - Indonesia’s economic growth target for 2024 will be 5.3 percent – 5.7 percent, National Development Planning Minister and National Development Planning Agency Head Suharso Monoarfa said after a plenary cabinet meeting on Thursday, March 2.

The economic growth target must be achieved. The target has been set based on the baseline figure in 2019 and economic growth realization in 2022, which stood at 5.31 percent, he said.

Meanwhile, the government has also set other development targets: it will aim to reduce the poverty rate to 6.5 percent –7.5 percent by 2024.

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In addition, the government will seek to bring the Gini ratio to 0.374, which is below the target outlined in the National Mid-Term Development Plan (RPJMN).

"We expect that the human development index can be better at 70–74,” the minister added.

Meanwhile, the government will aim to bring the farmer and fishermen exchange rates to 108 and 110, respectively. The government will also seek to reduce greenhouse gas emissions to 27.27 percent.

The government unveiled the theme for the 2024 Government Work Plan, which will be “Expediting Inclusive and Sustainable Economic Transformation.”

"The first emphasis in the 2024 Government Work Plan will be on poverty reduction and extreme poverty eradication, education and health quality improvement, industry revitalization, and applied research strengthening," Suharso said.

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The government will also emphasize business competitiveness strengthening, low carbon development and economic transition, basic infrastructure, and connectivity development acceleration, Nusantara capital city development acceleration, and convening of 2024 General Elections.

At the cabinet meeting, President Joko Widodo ordered ministers and institution heads to complete all work programs by 2024. He said he does not want to see incomplete programs next year.

"This is done so that everything leading to 2024 can be resolved," he said in a broadcast message via the Presidential Secretariat’s YouTube channel.

Source: State News Antara