1 week ago
8
November 5, 2024 | 06:30 pm
TEMPO.CO, Jakarta - The construction sector in the business field is one of the most significant contributors to Indonesia’s economic growth in the third quarter of 2024, said the Acting Head of Statistics Indonesia (BPS), Amalia Adininggar Widyasanti. She attributed the growth to the development of Nusantara Capital City (IKN).
"This development aligns with the continued development of IKN," said Amalia in a BPS press conference on Tuesday, November 5, 2024.
From the expenditure perspective, Amalia said that each spending category recorded positive growth, including the Gross Fixed Capital Formation (PMTB) with 5.15 percent year-on-year (yoy).
The PMTB growth, she said, is driven by the government’s infrastructure development projects, such as IKN. It was also influenced by the increase in government capital spending and capital goods imports.
"The growing PMTB component is driven by the infrastructure projects by the government and private sectors, which aligns with the ongoing infrastructure construction throughout Indonesia as well as the development of IKN," she said.
BPS recorded a 4.95 percent economic growth y-o-y in the third quarter of 2024, indicating a slowdown compared to the second quarter, which grew by 5.05 percent y-o-y.
It is known that former Minister of Public Works and Housing Basuki Hadimuljono stated that Prabowo intends to continue the development of IKN. He conveyed the statement following his inauguration as IKN Authority head on Tuesday, November 5.
Editor’s Choice: Agus Gumiwang Says Natural Gas Regulations as Game-Changer for Manufacturing
Click here to get the latest news updates from Tempo on Google News
Indonesia's Economic Growth Slows Down to 4.95% in Q3 of 2024, BPS Says
4 jam lalu
Economic growth next year is also expected to stagnate at 5.1 percent.
Prabowo Inaugurates Basuki Hadimuljono as IKN Authority Head
6 jam lalu
Prasetyo Hadi, the Minister of State Secretary, previously confirmed the appointment of Basuki Hadimuljono as IKN Authority chief.
Agrarian Reform in IKN Enters Final Stage, Land Bank Claims
1 hari lalu
The Land Bank, formed by former President Joko Widodo, has been instructed to allot at least 30 percent of its assets to agrarian reform.
Over 10 Million Foreign Tourists Visit Indonesia per September 2024: BPS
1 hari lalu
The number of foreign tourists visiting Indonesia jumped by 19.53 percent in September 2024, with 1.28 million visits, compared to September 2023.
BPS: All Provinces in Indonesia Experience Inflation in October
3 hari lalu
The Central Statistics Agency (BPS) has reported that all provinces in Indonesia experienced year-on-year inflation in October 2024.
October Inflation Breaks Indonesia's 5-Month Deflation Streak: BPS
4 hari lalu
BPS reports that personal care and other services contributed the largest to the current inflation rate.
Today's Top 3 News: 5,000 Maung SUVs to be Produced by Pindad in 100 Days
4 hari lalu
Here is the list of the top 3 news on Tempo English today.
Supporting Food Self-Sufficiency Program, Public Works Ministry to Slow Down IKN Development
5 hari lalu
The Ministry of Public Works explains that one of the steps to support the food self-sufficiency program is by constructing dozens of new dams
Economist: Almost Impossible for Indonesia's Economic Growth to Reach 8 Percent
5 hari lalu
IMF predicts that Indonesia's economic growth will only reach 5.7 percent until 2029. This projection is far from Prabowo's target to achieve 8 percent growth.
Minister Airlangga Hartarto Optimistic Indonesia Will Achieve 8% Economic Growth
6 hari lalu
Coordinating Minister for Economic Affairs, Airlangga Hartarto said that President Prabowo Subianto's target for economic growth is possible.
