Jakarta –
President Joko Widodo (Jokowi) admitted that he was whispered to by the Minister of Finance Sri Mulyani Indrawati regarding world oil price projections. According to Jokowi, the information from Sri Mulyani was good news which dispelled many concerns.
Initially Jokowi was talking about the conflict in the Middle East which would raise concerns about the global economy next year. According to him, if the war conflict between Israel and Hamas spreads further, world oil prices could experience an extraordinary increase.
Even so, Sri Mulyani has whispered about the prospects for world oil prices. He said, it is possible that oil prices will not fluctuate next year. This makes Jokowi happy.
“We know that the conflict in the Middle East can trigger an increase in global oil prices. Even though the Minister of Finance whispered to me earlier, ‘it doesn’t look like oil prices will rise again’. This is something we need to be grateful for,” explained Jokowi when giving directions. in Indonesia’s 2024 Economic Outlook, at St Regis, South Jakarta, Friday (22/12/2023).
According to him, Sri Mulyani had just attended a meeting of Islamic Development Bank (IDB) members. During the meeting, said Jokowi, he discussed the trend in world oil prices which did not appear to be volatile again.
He hopes that the fear of war in Gaza which will cause oil prices to rise will not happen in 2024.
“This means that our fears about the war in Gaza which will cause oil prices to rise will hopefully not come true,” concluded Jokowi.
2024 Year of Optimism
Jokowi also expressed his optimism about the economic conditions in Indonesia in 2024. According to him, the current economic indicator figures in Indonesia are very good.
“Entering 2024, we have no reason not to be optimistic. I call 2024 a year full of optimism. Why? Yes, we have the capital to be optimistic, both economically and politically,” said Jokowi.
From the economic sector, Jokowi explained that Indonesia’s large capital is welcoming 2024. First, throughout 2023 the Indonesian economy will grow at around 5%, much higher than the global average which only grows at 2.9%.
Then, the inflation indicator can also be maintained at 2.86%. This figure is much lower than the global inflation average of 7.2%.
Labor absorption also experienced a rapid increase, there was an additional labor absorption of 4.5 million people from August 2022 to 2023. Then, the manufacturing purchasing management index (PMI) index in November 2023 was still expansive at the level of 51.7 points. Furthermore, the trade balance also experienced a surplus for 43 consecutive months.
From the public’s perspective, the November consumer confidence index was also at 123.6 points, meaning that people have strong confidence in Indonesia’s economic conditions.
With these good economic conditions, Jokowi is confident that Indonesia’s economic growth will reach 5% in 2024.
“Therefore, once again there is no reason to be pessimistic entering 2024, I am still optimistic that our economic growth will be in the range of 5%,” said Jokowi.
Remember And Be Aware
Even though the projections are bright, Jokowi reminded all parties to remain careful and alert regarding the existing economic situation. He quoted a Javanese proverb regarding this warning.
“Javanese say stay alert and alert. You must remember to be careful and alert. Global uncertainty continues,” said Jokowi.
Some things to watch out for include the Middle East conflict which has triggered an increase in global oil prices. Jokowi also emphasized vigilance regarding food price estimates which could trigger inflation.
“Forecast prices for food commodities and other things are precisely what we are still careful about. I am a little worried about food commodities because yesterday’s super Elnino saw our production fall slightly, in 2024 it is estimated that it will not return to normal,” explained Jokowi.
Then also the weakening of China’s economy as Indonesia’s main trading partner must also be anticipated. Finally, he said that we should also be wary of tightening monetary policy in the United States, because it could suppress capital flows in developing countries and put pressure on financial stability.
According to him, sustainable policy consistency and mutual synergy between the government and the private sector are the main keys to maintaining economic growth. Indonesia must also consistently attract investment, both at home and abroad.
“Large businesses and small businesses. We must focus on investments that provide great added value, downstream investments in all leading sectors, including minerals, agriculture, fisheries and marine plantations,” concluded Jokowi.
(hal/hns)
2023-12-23 01:13:50
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