Jakarta – Coordinating Minister for Economic Affairs, Airlangga Hartarto, said at the National Conference of the Indonesian Cooperative Council (DEKOPIN) in Jakarta that the government is committed to maintaining people’s purchasing power through various economic stimulus packages. This program is specifically designed to support low-income households, the middle class, and the business sector, as an effort to maintain the stability and sustainability of the national economy.
“I hope that cooperatives can continue to encourage economic growth and productive sectors in accordance with the mandate of the Cooperatives Law,” he said.
He also emphasized the strategic role of MSMEs and cooperatives as the main drivers of the people’s economy. The government continues to strive to strengthen cooperatives through various steps, including adopting technology, improving the quality of human resources, and improving governance. These steps are expected to increase the competitiveness of cooperatives in facing challenges and integrating them into the national economic ecosystem.
Until the end of 2024, the Indonesian economy continues to show positive performance. Cumulative economic growth until the third quarter of 2024 was recorded at 5.03%, with inflation controlled within the target range of 2.5% ± 1%. In November 2024, inflation was only 1.55% (yoy). Household consumption is the main driver, projected to grow above 5% throughout the year.
The strength of people’s purchasing power is reflected in the Consumer Confidence Index (CCI) which reached an optimistic figure of 125.9 in November. Meanwhile, NielsenIQ data shows that total public spending in the third quarter was Rp256 trillion, indicating increasing economic optimism.
Currently, cooperatives in Indonesia are still dominated by the financial services sector (66%) and trade (17%), while real sectors such as agriculture and fisheries have not contributed optimally. For this reason, the government is encouraging the optimization of the real sector in order to create more jobs.
As part of this support, the government provides easy financing through the People’s Business Credit (KUR) with low interest. Until the end of November 2024, the realization of KUR has reached IDR 269.48 trillion or 96.24% of the target, with an NPL rate of 2.19%.
Airlangga also emphasized the importance of digitalization in cooperative management. Digitalization not only increases efficiency but also expands network access.
“I hope DEKOPIN becomes a game changer to encourage entrepreneurship, especially for the majority of society. Cooperatives must continue to grow, regenerate, and become the root of the national economy,” he concluded.