Corporate Credit Slows Down Ahead of 2024 Election

Companies still maintain their wait-and-see stance amid the 2024 election, stalling corporate credit growth. In response, banks are formulating strategies to ramp up corporate credits.

Fahmi Ahmad Burhan

12 Feb 2024 - 22.01
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Corporate Credit Slows Down Ahead of 2024 Election

Illustration - corporate credit agreement.

Bisnis, JAKARTA — Each bank has a different strategy in anticipating the slowdown in corporate credit distribution in the first half of this year due to companies’ cautiousness surrounding the upcoming election.

The 2024 presidential election, to be held on Wednesday (2/14/2024), is only days away. The presidential election often brings uncertainty due to differing visions among presidential candidates, which would determine the direction of future policies and economies.

Therefore, businesses tend to hold back before election results are announced to avoid making mistakes. If the presidential election proceeds in a single round or without a runoff election, this dubious period would be shorter.

As the election is held at the start of the year, especially if it only lasts for one round, there would still be ample elbow room until the end of the year for companies to execute their respective business strategies.

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