PORTALJABAR, BANDUNG CITY - Acting (Pj.) Regional Secretary of West Java Province Taufiq Budi Santoso attended the online launch of the 2023 Indonesian Economic Report (LPI) from the West Java Bank Indonesia Representative Office, Bandung City, Wednesday (31/1/2024).

The 2023 LPI was launched directly by the Governor of Bank Indonesia, Perry Warjiyo from Jakarta.

Bank Indonesia Governor Perry Warjiyo said that the issuance of the LPI was a form of public transparency from Bank Indonesia, as mandated by the Bank Indonesia Law.

The law also provides independence to Bank Indonesia to formulate and implement monetary, macro and payment system policies to support sustainable economic growth.

Bank Indonesia should be grateful for its performance in 2023, and should be optimistic about the prospects for 2024, but remain vigilant. Bank Indonesia is also committed to continuing to strengthen Bank Indonesia's policy mix, which has been implemented in 2023, and will be strengthened in 2024.

Apart from that, his party will also continue to strengthen synergy and collaboration with all parties to be able to move forward with optimism and alertness.

Indonesia will become one of the best economic performance of the world in 2023, where economic growth will be around 5%. Inflation even entered the fourth lowest figure in the world, namely around 2.61%.

Perry added, in 2024, Bank Indonesia is optimistic about national economic growth which is predicted to be slightly more than 5%. In terms of inflation, it is estimated that it will still be under control at around 2.5%, with credit growing up to 12% and the financial digitalization process being the fastest in the world.

Head of West Java BI Representative Erwin Gunawan added that improving economic growth would also occur in West Java. The political year 2024 will even increase consumption.

"Historically, election activities will have a positive impact on the economy. Moreover, in West Java, apart from the presidential election in February, it will also be followed by regional elections in November. Of course it will increase consumption in society," he said.

Apart from that, an increase in consumption will also occur as the celebration of religious holidays approaches which coincides with the presidential and gubernatorial elections.

Erwin advised that increasing consumption and demand in society must be balanced with controlling inflation through synergy and collaboration with related parties, including the West Java Provincial Government.