President Joko Widodo Optimistic as Indonesias Economy Records Growth Amid Global Challenges
Jakarta, INTI - Responding to the latest surge in Indonesia's economic growth, President Joko Widodo expressed optimism about the national economic conditions, which recorded a growth of 5.11 percent in the first quarter of 2024. Especially noteworthy is that this figure was achieved while many major countries experienced recession or growth declines.
"Major countries have entered into recession, others have seen their growth rates decline, but we managed to grow at 5.11 percent," President Jokowi stated during a press conference at the Telecommunication Device Testing Center (BBPPT) in Depok City, West Java Province, on Tuesday, May 7, 2024.
"I believe this is something we should be grateful for because it's largely supported by consumption, but also by the continuous inflow of investments into our country," he added.
The Central Statistics Agency (BPS) reported that Indonesia's economic growth in the first quarter of 2024 reached 5.11 percent year-on-year. This growth is the highest since 2015.
Meanwhile, addressing the issue of the closure of several manufacturing plants domestically, the President acknowledged that such fluctuations are part of market dynamics influenced by competition, efficiency, and adaptation to new goods.
"If there are factories closing down, it's because businesses go through ups and downs due to competition, perhaps efficiency, and also because of competition with newer, more innovative products," he explained.
Despite some factories closing, the President emphasized that, on a macro level, Indonesia's economic growth remains very robust. This indicates resilience and the potential of the domestic market as well as investor confidence.
"I believe these two aspects - consumption and investment - are very positive," he stated.
The increase in growth serves as an indication that despite facing global challenges, Indonesia remains a strong economy and continues to attract investments that positively impact national economic growth.
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