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November 27, 2024 | 01:19 pm
TEMPO.CO, Jakarta - The Indonesian Ministry of Finance together with the Organisation for Economic Co-operation and Development (OECD) launched the OECD Economic Survey of Indonesia 2024. Finance Minister, Sri Mulyani Indrawati, stated that the survey shows Indonesia maintaining economic resilience amid global uncertainties.
The State Treasurer outlined Indonesia's strong desire to become a high-income country. "Indonesia has a vision to become a high-income country, more inclusive, and of course strengthen our economic structure," Sri said during the OECD Economic Survey launch as quoted from the press release on Tuesday, November 26, 2024.
Therefore, several previously adopted policies will be reinforced, especially through strengthening industrial downstreaming. "Both related to strategic mineral resources such as copper and nickel, as well as other sectors such as agriculture, which is a priority for the President," said the former Managing Director of the World Bank.
Downstreaming is often mentioned by President Prabowo as one of his main programs to drive the economy. Downstreaming was also mentioned in his first speech after being inaugurated as President at the House of Representatives on October 20, 2024.
In addition, the role of Indonesia's digital economy is mentioned as one of the main drivers of growth. This is evident from the development of e-commerce and the increase in the number of startup companies. However, according to Sri, the development of physical infrastructure, access to digital technology, and connectivity remain major challenges. "Therefore, we continue to invest in these areas," she said.
This OECD Economic Survey covers two thematic agendas on Digitalization and Green Transition. In its report, the OECD stated that Indonesia's growth has recovered after the pandemic. However, caution should still be exercised in determining fiscal and monetary policies to maintain macroeconomic stability.
In the report, the OECD estimated that Indonesia's economic growth next year will reach 5.2 percent annually (yoy). This figure is in line with the government's target in the basic assumptions of the state budget for revenue and expenditure (APBN) 2025.
Editor's Choice: Sri Mulyani: Indonesia Still Has a Long Way to Go to Achieve High-income Status
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