Govt to Increase Investment and Export to Strengthen Rupiah
Date 5 September 2018
President Joko Jokowi Widodo reminded that the weakening of rupiah exchange rate to Rp15,000/US dollar was not only experienced by Indonesia. Therefore, the Head of State calls on all people remain vigilant.
These are (due to) insistent external factors, whether related to rising interest rate in the US, which are related to the US-Chinese trade wars, or related to economic crisis in Turkey and Argentina, President Jokowi answered journalists’ questions after attending the Export Dispatch of Toyota Car, at Tanjung Priok Port, Jakarta, Wednesday (5/9).
The President emphasized that he always coordinated in the fiscal, monetary, industry, and business sectors. The key is two, investment and export must increase, President Jokowi said.
To overcome this, President Jokowi explained that the Government has been executing mandatory Biodiesel 20 (B20) policy on 1 September 2018 and it is expected to reduce oil imports which are estimated to reach almost US$5 billion.
In addition, if we use the Crude Palm Oil (CPO) for B20, according to the President, it will help to increase the supply to the market, so that the price will also rise.
Meanwhile, related to the use of Domestic Component Level (TKDN), the President has ordered ministries, state-owned enterprises (SoEs), as well as private sector to pay attention on local content usage because it will save US$ 2-3 billion. (RAH/JAY/ES) (GWH/YM/Naster)