…the 2024 development agenda purpose is to push inclusive and sustainable economic transformation.Jakarta (ANTARA) - Indonesia's Finance Minister Sri Mulyani Indrawati is aiming for national economic growth of 5.3 to 5.9 percent in 2024.
She has set the target after taking into account several risks and dynamics on both the domestic and international fronts so as to create better inclusivity and ensure the sustainability of the national economy.
"By (taking into account) risks and dynamics on global and domestic scopes, the 2024 development agenda purpose is to push inclusive and sustainable economic transformation," she said at a meeting on fiscal and macroeconomics policies with lawmakers here on Friday.
The target was set based on the global economic turmoil sparked by the United States’ unpredictable fiscal policy, coupled with geopolitical tensions, she informed. The state treasurer further said that the current stability in the national economy also played a part in setting the target.
The government also suggested that other macroeconomic indicators be used as the basis for formulating the 2024 state budget, she added.
The indicators range from the following year's inflation rate of 1.5–3.5 percent, the rupiah exchange rate of Rp14,500–15,300 per US$1, and the 10-year government bond interest rate of 6.49–6.91 percent, she added.
She also highlighted the price of Indonesian oil, valued at US$75 to US$85 per barrel, as an indicator along with oil lift of 597 thousand to 652 thousand barrels per day and gas lift equivalent to oil of 999 thousand to 1.54 million barrels per day.
The indicators will play a part in the government's policy for fiscal aspects in 2024, which is expected to improve the national economic structure and boost national productivity through economic transformation, Indrawati affirmed.
The 2024 expenditure will be prioritized for strategic projects, ranging from the development of Nusantara City and basic infrastructure and connectivity, as well as the General Elections, she elaborated.
The government will also seek better expenditure quality at the central and regional level, and for governments to collaborate and integrate their policies so as to achieve the national development target in a more effective and efficient way, she added.
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Translator: Bayu Saputra, Mecca Yumna
Editor: Rahmad Nasution
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