President Jokowi Criticizes Public on Worrying News

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 29 Desember 2017
Category: News
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President Jokowi delivers direction at the closing of 2017 Indonesia Stock Exchange Trade, at Main Hall of BEI Building, Jakarta, Friday (29/12) afternoon. (Photo: PR/Jay)

President Jokowi delivers direction at the closing of 2017 Indonesia Stock Exchange Trade, at Main Hall of BEI Building, Jakarta, Friday (29/12) afternoon. (Photo: PR/Jay)

President Joko “Jokowi” Widodo argued that many people who are happy if there is worrying news circulated that made us pessimistic. “This is what I am not happy the most,” President Jokowi said when closing the 2017 Indonesia Stock Exchange Trade, at the Main Hall of Indonesia Stock Exchange Building (BEI), Jakarta, Friday (29/12) afternoon.

The President reminded all that back then in 2015, it said that wait and see because there were Regional Head Elections (pilkada). In 2016, there were pilkada, wait and see again, and in 2017 there were Pilkada, wait and see.

“Next year, there are elections. Afterwards, there is Presidential Election, then wait and see again. Do we want to keep doing it?,” the President said while inviting the public to put an end to it. “Those who have interests in politics, play a role in politics. Meanwhile, those who have interests in economy, let us work together in the economic affairs,” the President continued.

The President admitted that when it comes to the sale, the more clicks on the internet site, the more exciting and fun it will be if using worrying news.

However, the problem is, if we get caught up in fear of risks, we will quickly miss the opportunities. “In fact, the opportunity knocks only once. We should seize moments like this,” the President said.

President Jokowi said that at the beginning of the year, all analysts warned about the rise in the dollar’s interest rates in the US. Many said with the rise in the dollar’s interest rate by the Federal Reserve, the Fed, all other currencies will fall.

Later, the President went on to explain, many people were worried about the massive fiscal stimulus by the US Prsident-elect Donald Trump, all of whom were also talking about it. Many people said that, the President added, the flow of capital will run back to the US.

Furthermore, the President said that many analysts at the beginning of the year also warned about rising protectionist sentiment around the world regarding the risks of a trade war caused.

Moreover, the President continued, there are some elections in several European countries where hard-line figures are feared to be president or prime minister, both legislative elections in the Netherlands, presidential elections and legislative elections in France, and legislative elections in Germany.

However, what happened finally? President Jokowi said that the US dollar weakened throughout 2017. He continued even back below the point when President Trump’s victory in last year’s US election. Capital flows to developing countries, the President added, including to Indonesia also hit a record.

The President continued, exports of developing countries, especially in Asia even soared. He added that 2017 was the year in which the rate of world trade growth was above the world economic growth rate, the first time in 7 years.

“We should follow such figures so that it gives us a sense of optimism to deliver positive, optimistic things,” the President said.

Indonesia’s exports, the President continued, rose by 15-17 percent this year. He added that international investment to Indonesia this year is at around 13-14 percent. Indonesia’s rating, the President continued, got the upgrade, firstly, the SMI returned to investment grade, and the last from Fitch rating also from BBB- to BBB.

Therefore, the President emphasized that this optimism should continue to be delivered. “What we want is a sense of optimism so investment becomes a spirit of us all,” the President said.

On the occasion, the President reminded all not to read economic analysis in social media, which it is unclear where the source is from.

“What’s the conclusion? The important thing is do not be afraid. Risk always exists but that is precisely the opportunity,” the President concluded.

Attending the meeting were Coordinating Minister for the Economy Darmin Nasution, Coordinating Minister for Maritime Affairs Luhut B. Pandjaitan, Minister of Finance Sri Mulyani Indrawati, Bank Indonesia Governor Agus Martowardojo and Chairman of the Board of Commissioners of Financial Services Authority. (OJK) Wimboh Santoso. (FID/JAY/ES) (MUR/YM/Naster).

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