Indonesia’s Economic Fundamentals in Good Condition, President Jokowi Says

Photo caption: President Jokowi answer questions after the opening of 2018 National Development Planning Conference (Musrenbangnas) at Puri Agung Ballroom Hotel Grand Sahid Jaya, Jakarta, Monday (30/4). (Photo: PR/Jay).

Indonesia’s economic fundamentals are still in good condition and inflation can be controlled at around 3.5 percent, President Joko “Jokowi” Widodo said.

The President added that the country’s exports are also still in positive condition and balance of trade deficit is also getting better. “It means our macro fundamentals are good,” said President Jokowi in response to the reporters’ questions at the opening of 2018 National Development Planning Conference (Musrenbangnas) at Puri Agung Ballroom Grand Sahid Jaya Hotel, Jakarta, Monday (30/4).

Regarding the weak Rupiah, which is close to Rp14,000 per US Dollars in past few days, President Jokowi said that the exchange rates drop in almost all countries and added that this is a global market phenomenon.  “This is the impact of policies especially on interest rate hikes in the United States,” the President added.

However, President Jokowi assured that the Government will not intervene in monetary (policies) because it is within the authority of central bank Bank Indonesia (BI).

Regarding the possibility of adjusting the State Budget (APBN) for 2018 Fiscal Year in response to the development of Rupiah exchange rate, President Jokowi said it will be discussed in a meeting with Financial Sector Policy Committee (KKSK). “Please ask BI Governor or to Minister of Finance (regarding the policies),” President Jokowi said. (FID / JAY / ES) (STU/EP/Naster)