The Bank Indonesia Representative Office (KPw BI) of East Java is optimizing Local Currency Transactions (LCT) to strengthen the economy and foreign trade. Erwin Gunawan Hutapea, the Head of KPw BI East Java, stated that optimizing LCT can accelerate East Java's export and investment performance. During the Jatim Talk, Road to East Java Economic Forum (EJAVEC) in Surabaya on September 30, 2024, he emphasized the need for strategic policies to enhance the economic performance of East Java's key sectors.
The primary recommendations from KPw BI East Java to maintain the region's solid economic performance include focusing on developing high-value sectors, strengthening investment by improving investment forums, accelerating infrastructure and connectivity, and expediting the digitalization of East Java's payment systems. Utilizing LCT can reduce the reliance on USD and minimize associated market uncertainties, supporting East Java's strong economic foundation driven by robust export growth and positive domestic demand.
