WNAM REPORT: The Indonesian government is prioritising long-term economic growth through energy security, digitalisation, and natural resource industrialisation, according to Deputy Minister of Finance Thomas Djiwandono.
Regarding fiscal targets, the government aims to keep the budget deficit below 3%, with next year’s deficit target set at 2.53%. Currently, efforts are focused on creating job opportunities for youth and developing new growth engines to support the middle class.
The Finance Ministry projects economic growth to reach 5.1% by the end of this year, slightly below the 5.2% target outlined in the 2024 state budget, but higher than the 5.05% recorded in 2023.
The Central Statistics Agency reported that Indonesia’s economic growth for the second quarter of this year reached 5.05%. Meanwhile, the World Bank has upgraded its forecast for the country’s gross domestic product (GDP) growth, projecting an average of 5.1% per year from 2024 to 2026. This revision marks an increase from the previous projection of 4.9% for both 2024 and 2025.
President Prabowo Subianto is aiming to achieve 8% GDP growth within the first three years of his presidency.
