Pemerintah is committed to maintaining the Purchasing Managers' Index (PMI) for manufacturing to achieve economic growth above five percent in 2024. The Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance, Febrio Kacaribu, stated in Jakarta on Monday, emphasizing the government's dedication to driving economic growth through the manufacturing sector, particularly export-oriented industries. This commitment aims to sustain optimism for achieving growth above five percent in 2024. Despite a slight slowdown in May 2024, with the PMI for Indonesian manufacturing at 52.1 compared to 52.9 in April 2024, Indonesia's manufacturing performance has maintained expansion for 33 consecutive months. This continuity aligns with the government's efforts to maintain purchasing power through various fiscal policies.
Febrio highlighted that Indonesia's manufacturing performance is supported by sustained production output and domestic demand levels. Additionally, several of Indonesia's trading partners, such as China and India, have recorded expansive manufacturing activities, contributing to the overall positive outlook. Meanwhile, neighboring ASEAN countries like Vietnam and Myanmar also reported expansive manufacturing activities, each registering at levels of 50.3 and 52.1, respectively. In contrast, the PMI for the European region remains in the contraction zone at 47.4. Meanwhile, the Ministry of Industry's Spokesperson, Febri Hendri Antoni Arif, anticipates the potential impact of the Ministry of Trade Regulation No. 8 of 2024 on manufacturing production activities. The ministry is proactive in ensuring that the regulation does not negatively affect Indonesia's manufacturing industry, aiming to prevent further decline in next month's PMI.
