Ministry Affirms Indonesia Unlikely to Experience Recession

Jakarta – The Coordinating Ministry for Economic Affairs said that it is unlikely that Indonesia to experience recession. This is because Indonesia's economic conditions in the first quarter of 2024 are still stable amid the heating up of global geopolitical conditions.

Secretary of the Coordinating Ministry for Economic Affairs, Susiwijono Moegiarso, said inflation in Indonesia is currently under control. In March 2024, inflation amounted to 3.05 percent year on year (yoy).

"Inflation in this country is still very much under control. In 2024, we can grow above 5 percent. The possibility of a recession is still small compared to other countries," Moegiarso said in a statement here on Friday.

According to him, the current government has prepared various policies to anticipate various global geopolitical dynamics.

Moegiarso remarked, "The spirit of optimism needs to be conveyed to all investors in the world that investing in Indonesia, especially in Special Economic Zone (KEK) is the right choice considering that Indonesia is quite strong from an economic perspective."

To improve the competitiveness of Special Economic Zone, it is necessary to monitor the development progress and investment realization through regular evaluation meetings.