Indonesia expected to achieve economic growth of 5.2% in Q1

The Coordinating Minister for Economic Affairs is optimistic that Indonesia's economic growth will exceed 5% in the first quarter of 2024, stating that Indonesia's economic target for 2024 is to grow by 5.2%. the target for this year so far has been 5.2%, and of course the government is hopeful that this will be quite a good figure in the first quarter of 2024, but is waiting for the official results from the Central Statistical Agency, BPS. The economy is expected to grow over 5% in the first quarter.

He emphasized that Indonesia's economic fundamentals are better, while the rupiah exchange rate has depreciated by 5.16% so far this year to 16,235 rupiah per US dollar. However, the rupiah is in a better position than other national currencies, such as NTD depreciation of 5.95%, KRW depreciation of 6.62%, Thai baht depreciation of 7.78%, and Japanese yen depreciation of 8.83%. In addition, Indonesia's trade balance continued the trend of 47 consecutive months of surplus in March 2024.In March 2024, the trade balance continued to be in surplus for US$4.47 billion.