The Governor of Bank Indonesia (BI), Perry Warjiyo, has lauded Indonesia's economic performance in 2023, considering it commendable and outstanding. With an estimated growth of five percent, Indonesia's economy performed remarkably well amid global uncertainties and economic downturns in various countries. Governor Perry highlighted Indonesia's economic achievements, stating it as one of the best in the world. The projected five percent growth in 2023 is deemed high, considering global uncertainties and economic challenges faced by several nations. Inflation, being among the four lowest in the world, especially within the G-20, along with the appreciation of the Rupiah, a 10 percent credit growth, and significant digitalization, contribute to this success. Perry emphasized that this performance serves as a foundation for Indonesia's economy in the current year. Consequently, the economic growth rate for this year is expected to surpass the realization forecast for 2023. In support of this outlook, BI will continue optimizing its existing policies.
Despite the optimism for the economic landscape in 2024, Perry urged caution due to global conditions that could influence domestic dynamics, potentially disrupting economic performance this year. Factors such as the uncertainty regarding the Fed Fund Rate (FFR), the strength of the US Dollar, China's economic condition, and global geopolitical developments are areas where vigilance is necessary. Governor Perry highlighted the importance of remaining optimistic and cautious amid these global uncertainties. He assured that BI would reinforce its policy mix, emphasizing monetary policies that support economic stability, particularly concerning exchange rates and inflation. BI's macroprudential policies will play a role in supporting growth by ensuring sufficient liquidity in the banking sector, allowing the effective channeling of credit to priority and productive sectors. Coordination with the Financial System Stability Committee (KSSK) will aim to ensure that bank credit growth reaches 10 to 12 percent, coupled with an acceleration of digitalization in payment systems, not only domestically but also internationally. Perry emphasized that these efforts could be optimized through strengthened collaboration among stakeholders. BI is committed to enhancing synergy with the government as the fiscal authority to safeguard domestic economic resilience. The continuous reinforcement of coordination between stakeholders is vital for the effective implementation of policies supporting Indonesia's economic growth.
Source: https://www.metrotvnews.com/read/NOlCnxEx-bi-ekonomi-indonesia-jadi-salah-satu-yang-terbaik-di-dunia
