BI Governor Expresses Optimism for Economic Recovery in 2021

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 4 Desember 2020
Category: News
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Governor of Bank Indonesia (BI) Perry Warjiyo delivers remarks during the 2020 Bank Indonesia Annual Meeting held virtually on Thursday (3/12). Photo by: YouTube channel of Bank Indonesia.

Governor of Bank Indonesia (BI) Perry Warjiyo has expressed optimism that national economic recovery can be achieved in 2021.

“God willing, the economy will start to grow positively in the fourth quarter of 2020 and increase to around 4.8 to 5.8 percent in 2021. Economic growth will also increase in all regions,” Perry said during the 2020 Bank Indonesia Annual Meeting held virtually on Thursday (3/12).

Perry stated that the momentum for national economic recovery needs to be supported by strengthening synergies to build optimism.

“Bank Indonesia continues to work hand in hand with the Central and Regional governments, the Financial Services Authority (OJK), the Deposit Insurance Corporation (LPS), as well as with the banking sector, the business sector, investors, the House of Representatives (DPR), the Supreme Audit Agency (BPK), academics, media, and communities,” Perry said.

He went on to say that vaccination and maintaining self-discipline in following COVID-19 health protocols are imperative for national economic recovery.

“The epicenter of the crisis is the COVID-19 pandemic. Therefore, vaccination and the discipline in following the COVID-19 protocols are very important,” he said.

Perry further said that five policy strategies are needed to strengthen the economic recovery, including the gradual opening of the productive and safe sector, accelerating the realization of fiscal stimulus, increasing of financing to the business sector, the continuation of monetary and macro-prudential stimulus, and economic and financial digitalization, especially for the MSMEs.

Perry also said that the BI fully supports the national economic recovery through various policies, including monetary and macro-prudential stimulus, as well as economic and financial digitalization.

“Bank Indonesia will continue to direct all policy instruments to support national economic recovery, and work hand in hand with the Government and the Financial System Stability Committee (KSSK) while maintaining macroeconomic and financial system stability,” he concluded. (Public Relations of BI/UN) (RI/LW)

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