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Election Spending By Parties Can Boost GDP 0.6%: Minister

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Jakarta (voinews): Coordinating Minister for Economic Affairs Airlangga Hartarto has said that election spending by political parties can normally boost the gross domestic product (GDP) by 0.6 percent.

"In every political year, there will be spending by political parties that increases the GDP," he highlighted at the “Maybank Indonesia Economic Outlook 2023” event here on Wednesday.

He said he will keep pushing political parties' spending so that they can help bolster the domestic economy.

According to him, political parties' spending activities will last from September till the end of this year. The general elections have been scheduled for February 2024.

Given the synergy forged for facing several agendas in 2023, a political year, it is expected that the elections will run safely and peacefully, the minister said.

Earlier, a senior economist from the Institute for Development of Economics and Finance (Indef), Aviliani, said that the political year will stoke public consumption, which could contribute to national economic growth.

"A political year tends to (support economic growth) through spending by political parties and candidates who run as House members," the economist explained on March 2.

During a public discussion themed “Economic Challenges in the Political Year,” Aviliani said the increase in consumption will begin to be felt in 2023 ahead of the 2024 elections once political parties and candidates conduct campaigns.

The general elections are being held to elect the president and vice president, governors and deputy governors, district heads and their deputies, mayors and deputy mayors, and legislative members of the House of Representatives (DPR), regional/city/district legislative councils (DPRDs), and the Regional Representative Council (DPD).

Aviliani said that the economy performed well in the last two election periods, recording a growth of 5.01 percent in 2014 and 5.02 percent in 2019.

"Our society tends to be much more mature because elections are considered a common thing," she added.  (Antaranews)

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