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Coordinating Minister Airlangga: Political And Security Stability, A Prerequisite For A Nation's Progress

"Coordinating Minister for Economic Affairs Airlangga Hartarto emphasized that the role of the National Police is important to support economic development in the country by ensuring that Indonesia is stable, security is guaranteed, and space for people to do activities is safe.

""Political stability and security are prerequisites for the progress of a nation, and the strategic role of the National Police is important to create a sense of security, legal certainty, and oversee economic development in the country,"" said Airlangga.

Amid the turmoil of global challenges, economic growth remained solid at 5.1% in the first quarter of 2024. This figure is higher than Malaysia (3.9%), South Korea (3.4%), and Singapore (2.7%). The IMF also projects Indonesia's economy in 2024-2025 to be above global growth projections and the average for developing countries.

In addition, the inflation rate is also under control within the target range of 2.5±1% and investor confidence remains strong. Rating agencies Moody's, Fitch, and JCR assess Indonesia's economic resilience to be maintained supported by high and stable economic growth, controlled inflation within the target range and a low and manageable ratio of government debt to GDP. Good economic prospects can be seen from growing consumption and investment. The consumer confidence index is still optimistic, retail sales are growing positively, manufacturing activity is at an expansion level, and credit is growing in double digits.

""Under these conditions, the Government will continue to monitor and mitigate the impact of global economic dynamics. Strengthening collaboration in terms of fiscal, monetary, and real sector policies will continue,"" Airlangga explained.

Airlangga further explained that the Government has formulated three major strategies to encourage strong, inclusive, and environmentally friendly economic growth through revitalizing conventional economic engines, new economic engines that serve as future growth accelerators, and responsive policies through strengthening resilience and social empowerment. Indonesia also became the third Asian country, after Japan and Korea, to achieve Open for Accession Discussion status to become a full member of the OECD, which can have a major influence on the national economy going forward."