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West Kalimantan's Potential in Focus at KEF 2024
WINDONESIA October 18, 2024
Acting West Kalimantan Governor Harisson when officially opening KEF 2024 at the Keriang Bandong Hall, BI West Kalimantan Office in Pontianak City, West Kalimantan on Oct. 16, 2024. (Suara Kalbar/West Kalimantan Regional Secretariat Leadership Bureau)
Bank Indonesia (BI) West Kalimantan Province Representative Office held Kapuas Economic Forum 2024 to discuss the province's investment potential and the potential of its economic sectors to support economic growth.
BI West Kalimantan Head NA Anggini Sari revealed during the forum on Oct. 17, 2024, that BI estimates national economic growth in 2024 to be in the 4.7 to 5.5 percent range, with optimism for the 5 percent level to be reached.
She emphasized the importance of strengthening structural reform policies as a priority to increase productivity and strengthen the economic structure, especially in sectors that have great potential in employment and achieving high added value.
"Structural reform is the main key in efforts to increase economic competitiveness and create jobs, especially in sectors that play an important role in the regional economy," Anggini said.
She also explained that the economy of West Kalimantan showed a positive recovery after experiencing a slowdown due to the ban on raw bauxite exports in 2023. West Kalimantan's economic growth in 2024 is projected to be in the 4.6 to 5.4 percent range, driven by increased investment and household consumption.
"This recovery is driven by improvements in the performance of the agriculture, plantation, and manufacturing industry sectors, supported by an increase in the number of CPO (crude palm oil) factories and an increase in the selling price of those products," he said.
In addition, Anggini also emphasized that the economic stability of West Kalimantan is currently quite well maintained, marked by controlled inflation. The synergy between the Regional Inflation Control Team (TPID) and stakeholders has succeeded in keeping inflation within the target of 2.5 percent plus minus 1 percent in 2024, especially through efforts to control food inflation.
"The National Food Inflation Control Movement (GNPIP) and close collaboration between parties have maintained inflation stability in West Kalimantan," he added.
West Kalimantan's success in controlling inflation can also be seen from the awards won by the West Kalimantan TPID, which received fiscal incentives for their performance in 2024. Meanwhile, the Pontianak City TPID was nominated for the best district/city TPID, and the Landak Regency TPID received fiscal incentives at the end of 2023.
The Kapuas Economic Forum is an important event in strengthening synergy between economic actors in West Kalimantan and identifying strategies to support sustainable economic growth.
Source: kalbar.antaranews.com