Warta Ekonomi, Bandung - Bank Indonesia West Java Provincial Representative Office predicts that economic growth in West Java in 2024 will reach 4.9 percent - 5.7 percent year on year.

Head of West Java BI Representative Erwin Gunawan said this must be immediately responded to with optimism. However, he also invited all stakeholders to remain vigilant in facing various challenges in 2024.

"In 2024 we must be optimistic but remain vigilant," said Erwin to journalists after attending the launch of the 2023 Indonesian Economic Report (LPI) in Bandung, Wednesday (31/1/2024).

Erwin also appealed to all parties to continue to work together in various ways to realize West Java's economic growth in 2024.

"Hopefully with synergistic collaborative efforts together we can realize economic growth in the range of 4.9 - 5.7 percent year on year," he said

Erwin said that the 2024 political year would increase consumption so that it would have a positive impact on West Java's economic growth.

"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 explained.

Erwin added 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.

"Increased consumption will also occur as the celebration of religious holidays approaches which coincides with the presidential and gubernatorial elections," he said.

Meanwhile, Acting Regional Secretary of West Java Province, Taufiq Budi Santoso, appreciated the collective work of Bank Indonesia West Java Representatives which has encouraged West Java's economy to remain stable during 2023.

"I think this theme is very relevant to what is happening in West Java. The human development index is increasing, thank God we can reduce the unemployment rate," said Taufiq.

Apart from that, during 2023 the number of people in the underprivileged category in West Java will decrease, accompanied by incomes that continue to increase slowly. "The poor population in West Java may decrease, per capita income will also increase," he said

With regard to investment, West Java is at the forefront with a realization achievement of IDR 210.6 trillion during 2023 or reaching 112 percent.

"Investment in West Java recorded investment realization reaching IDR 210.6 trillion, reaching 112 percent," he said.

Entering 2024, he said that the West Java Provincial Government is determined to strengthen several strategic sectors to bring prosperity to the people of West Java.

"In 2024 the provincial government will strengthen strategic sectors, education, infrastructure and human resources, so that economic growth can be achieved with the quality of life of the community," he concluded.

(SOURCE)