Jakarta (ANTARA) - Indonesia's economy will continue to grow solidly, with stable core inflation supported by increasing domestic demand, the Financial Services Authority (OJK) stated.

"Indonesia's economy will continue to grow solidly with maintained core inflation and with the downward trend stopped since 2022 end," OJK Chairman of the Board of Commissioners Mahendra Siregar remarked here on Tuesday.

At the press conference of the March 2024 Board of Commissioners Meeting Results, he remarked that some indications show ongoing recovery from the demand side.

Meanwhile, in terms of manufacturing performance, the Purchasing Managers' Index (PMI) continues to be maintained on the expansion side, supported by increasing demand and employment.

The financial services industry is also considered stable, supported by strong capital, stable liquidity, and a good risk profile, which are its main modalities towards becoming a catalyst for national economic growth, both now and in the future.

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"Moreover, the current situation, which is shown by the PMI indicator, provides optimism for the business world," he pointed out.

Furthermore, Siregar affirmed that the business world will conduct expansion, so that there are even greater opportunities for the Indonesian economy to achieve its growth target.

However, he still deemed it necessary to be aware of various global uncertainties that are arising in order to anticipate the potential and impact on the Indonesian economy.

On the other hand, Siregar remarked that the current global economic and financial market conditions are quite conducive and even look better than expected in some aspects.

Moreover, he reminded of the importance of paying close attention to potential global and domestic risks that can hamper national economic growth.

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Translator: Martha S, Kenzu
Editor: Yuni Arisandy Sinaga
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