Introductory Remarks of President Joko Widodo at the Limited Meeting for Further Discussion on Macroeconomic Policy and Fiscal Policy Principles (KEM PPKF) Year 2019 at Presidential Office, Jakarta on Tuesday, 15 May 2018

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 17 Mei 2018
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Assalamu’alaikum warahmatullahi wabarakatuh,

This afternoon, we will discuss Macroeconomic Policy and Fiscal Policy Principles Year 2019. Before I invite Minister of Finance to take the floor, first, I want to call on all parties to increase national economic growth that reached 5.06 percent in the first quarter of 2018 through maintaining purchasing power, increasing investment and export competitiveness.

Particularly for export, a number of export barriers be it in permit, banking, financial, taxation, and customs sectors in central and regional governments must be eliminated immediately.  Thus, we should not hesitate to design the right incentives.  We do it now and we expect to see the result soon.

Second, we must always look out for any risks, especially global uncertainty. Global economic uncertainty and global financial volatility triggered by the United States’ monetary normalization policy has led to currency depreciation in several countries, including Indonesia. However, alhamdulillah, compared to other countries, Indonesia is still better. External factors, such as oil prices, potential trade war between the US and China, and international geopolitics situations should also be anticipated. We must also prepare mitigation of global uncertainty, as well as to anticipate the movement toward new balance of global economy.

Third, I also urge all to stay focus on maintaining security stability, so that the Government’s work to improve welfare, reduce poverty, and create jobs can be carried out continuously, accelerated and improved.

I would now like to conclude my remarks. (PR, Cabinet Secretariat)(RAS/AW/YM/Naster)

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