Jakarta - Institute for Development of Economics and Finance researcher Ahmad Heri Firdaus stated that Indonesia needs additional funds of IDR 1,000 trillion per year in the Gross Domestic Product (GDP) ratio to realize 8 percent economic growth.
"To grow 8 percent, Indonesia's GDP must increase by IDR 1,000 trillion from the 2024 GDP value," he said in a discussion on Opportunities and Challenges of the Chemical Industry in Jakarta, Friday.
He said, so far the Indonesian economy has only grown around 5 percent or equivalent to Rp600 trillion in one year. Therefore, to optimize national economic growth, an economic strategy is needed that focuses on strengthening the service and industrial sectors, while still supporting the agricultural sector.
The party has created a sectoral growth scenario which will later contribute to increasing the income to GDP ratio.
For the agricultural sector, growth of 6.07 percent per year is needed, mining and excavation 8.05 percent, processing industry 8.35 percent, electricity and gas supply 7.05 percent, construction must grow 7.1 percent, wholesale and retail trade 8.83 percent, and financial services and insurance 6.24 percent.
If we look at Indonesia's previous economic growth, which in 2024 grew by 5.03 percent, this figure experienced a slowdown of 0.02 percent annually ( year on year / YoY) or 5.05 percent in 2023.
"The main challenges in accelerating the economy today include slowing purchasing power and limited market access," he also said.
Previously, the Minister of National Development Planning/Head of the National Development Planning Agency (PPN/Bappenas) Rachmat Pambudy said that it was not impossible to achieve economic growth of eight percent in 2029.