Jakarta. Indonesia's economy remains fundamentally strong but requires further structural reforms to achieve its Golden Indonesia Vision 2045, according to state-owned Bank Negara Indonesia (BNI) President Director Royke Tumilaar.

Speaking at the 2024 BNI Investor Daily Summit on Tuesday, Royke acknowledged that while the pandemic and high-interest rate era have ended, the global economy continues to face volatility, uncertainty, complexity, and ambiguity (VUCA), exacerbated by geopolitical risks such as the Russia-Ukraine conflict and tensions in the Middle East.

“The IMF and World Bank predict lower economic growth compared to pre-pandemic levels, as the world adapts to megatrends like digitalization, climate change, and the need for inclusive and sustainable growth,” Royke explained.

Despite these challenges, Royke expressed optimism about Indonesia’s strong economic fundamentals. He highlighted that Indonesia recorded the second-highest economic growth among G20 nations in 2024, behind only India. Additionally, the country's fiscal discipline remained intact, with government debt at 39.4 percent of GDP, lower than many other emerging markets.

However, Royke warned that strong fundamentals alone are not enough to meet Indonesia’s ambitious 2045 goal of becoming a developed nation. He emphasized the need for structural reforms in areas such as education, human resources development, manufacturing, and creating value in collective economic sectors. "We must also promote more inclusive and sustainable growth,” he added.

BNI seeks to use the Investor Daily Summit as a platform for fostering optimism and discussions on Indonesia's future economic direction, focusing on avoiding the middle-income trap.

The 2024 BNI Investor Daily Summit, themed “Accelerating Resilient Growth,” serves as a platform to foster optimism and discussions on Indonesia’s economic future, with a focus on avoiding the middle-income trap. President Joko "Jokowi" Widodo opened the two-day event, which was also attended by State-Owned Enterprises Minister Erick Thohir, Finance Minister Sri Mulyani, and Investment Minister Rosan P. Roeslani.

Royke concluded by thanking B-Universe Executive Chairman Enggartiasto Lukita and the event organizers, stating, “BNI Investor Daily Summit 2024 will hopefully create synergy and add value as we work together to drive Indonesia’s economic transformation.”

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