"Dream - Executive Director of the Center of Economic and Law Studies (Celios), Bhima Yudhistira, revealed that the future president of Indonesia will face a quite challenging economic situation."
"It is difficult to achieve 6 to 7 percent economic growth (Indonesia). The geopolitical situation is still bleak, meaning that export performance could slow down and foreign exchange reserves are at risk of declining. This is already evident from the decreasing trade surplus.""
"Expressed Bhima, quoted from Liputan6.com, Thursday, March 21, 2024."
Bhima estimated that in the first three years of the new president's leadership, there would be no windfall from commodity prices. This is because the world oil prices are rising, while coal and palm oil prices have not increased, making the economic situation even more complex. "The interest rates are uncertain when they will go down, affecting the flow of direct investment funding and the financial market," he said.
Furthermore, food inflation has become a serious threat, as it directly affects the purchasing power of the lower middle class. Bhima suggests that the Government should be prepared to allocate various budgets to support farmers and maintain purchasing power. "Here, the challenge is to avoid reversing social assistance. In the years 2023-2024, especially before the elections, the poor can receive rice, cash transfers, and other social assistance," he added.
"So, as social assistance decreases for various reasons, it creates a sense of worry among the 40 percent of the lowest income earners. They are used to receiving social assistance, but as it gradually decreases, the poverty rate could rise in the next 5 years. Now, because they have already been trapped in the distribution of social assistance, massive social assistance must continue."
Clearly Bhima.
Bhima also questioned the next steps to finance campaign programs, including downstreaming, IKN, and free lunch?
"Here concerns arise from investors and business actors, Prabowo's fiscal discipline will decline, debt ratio will increase, tax revenue will target the middle class," he said. Therefore, according to Bhima, it is important for the new Government to carefully and clearly formulate fiscal plans or budget postures, where risks and strategies that need to be addressed from now on. "If fiscal discipline declines, debt ratings could be downgraded and serious problems could arise," Bhima said.
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The KPU count shows that candidate number 02 obtained the most votes, which is 96,214,691 votes.
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