Public Relations of the Ministry of Finance
In the midst of global economic stagnation, various strategic government policies have succeeded in supporting national economic resilience. As of March 2024, the poverty rate continued its downward trend to 9.03 percent from 9.36 percent in March 2023.
“The poor population in March 2024 decreased by 0.68 million people compared to March 2023, bringing the number of poor people to 25.22 million. This poverty rate is the lowest in the last decade,” said Head of the Fiscal Agency Febrio Kacaribu, quoted from the official website of the Ministry of Finance, Friday (07/05).
Spatially, poverty rates also appear to be decreasing in both urban and rural areas. The poverty rate in urban areas fell to 7.09 percent from 7.29 percent in March 2023. Meanwhile, the percentage of poor people in rural areas decreased to 11.79 percent from 12.22 percent in March 2023. The decline in poverty rates also occurred throughout Indonesia, with the largest decline occurring in Bali and Nusa Tenggara islands.
“The inequality rate of Indonesian population expenditure (gini ratio) has also decreased and is below the pre-pandemic rate to 0.379 in March 2024 (March 2023: 0.388). This rate is the lowest in the last decade. The decrease in inequality occurred both in urban and rural areas,” he said.
The decrease in poverty rates in March 2024 was supported by solid domestic economic activities and various government social assistance programs, especially in response to the increase in food inflation in early 2024.
“This decrease in poverty rates brings hope amidst global economic stagnation. The Government will continue to be committed to maintaining inflation stability so that it can encourage an increase in people’s purchasing power, which in turn can accelerate the decrease in poverty rates and improve people’s welfare.” said Febrio. (Public Relations of the Ministry of Finance/UN)
