President Prabowo, National Economic Experts Discuss Efforts to Strengthen Economic Stability, National Finance
President Prabowo Subianto receives a number of national economic experts at Presidential Palace Complex, Jakarta, on Friday (05/22). (Photo: BPMI of Presidential Secretariat)
President Prabowo Subianto on Friday (05/22) received a number of national economic experts at Presidential Palace Complex, Jakarta. The meeting discussed experience in managing economic crisis in the previous period and the government’s anticipatory measures to maintain economic stability and the national finance sector amid global dynamics.
Coordinating Minister for Economic Affairs Airlangga Hartarto, who accompanied the President along with Minister of Finance Purbaya Yudhi Sadewa, mentioned that the experts present at the meeting were former ministers and governors of Bank Indonesia (Indonesia’s central bank), including Burhanuddin Abdullah, Paskah Suzetta, and Lukita Dinarsyah Tuwo.
“I accompanied Mr. President to receive several experts who once served as ministers or governors of Bank Indonesia. During the meeting, they shared their experiences in facing the financial crisis in 2008,” Airlangga said during a press release after the meeting.
Airlangga explained that the experts delivered important points on their experiences in tackling global economic pressures, including how they dealt with oil price surges, inflationary pressures, and exchange rate fluctuations. Airlangga said that in the past, Indonesia faced soaring oil prices that had considerable effect on inflation.
“In 2005, there was an oil crisis which caused oil prices to surge to 140 US$ per barrel,” he explained.
According to Airlangga, Indonesia’s current macroeconomic situation is better than that in previous crisis periods. The economic fundamentals are considered stronger, and the rupiah’s depreciation is at a lower level.
“If we look at today’s context, our macroeconomic situation is relatively better, and our fundamentals are stronger. And the depreciation of the rupiah is around 5 percent; it is significantly lower than that in previous cases,” he said.
Based on the meeting’s results, the Government has taken several anticipatory measures to face various possibilities ahead. President Prabowo has instructed the officials, including the Minister of Finance, to continuously monitor regulations to strengthen the financial sector stability and maintain prudent banking principles.
“Mr. President has instructed us, including the Minister of Finance, to monitor the regulations to strengthen the financial situation and maintain our prudential banking system,” Airlangga said.
The Government assessed the need to review the strengthening of banking capital, taking into account the large number of banks in Indonesia. This step is part of the efforts to keep the national financial system stability strong amid global dynamics.
The meeting emphasized the President Prabowo’s leadership approach, which prioritizes a combination of experience, vigilance, and fundamental strengthening as the keys to maintaining national economic stability and ensuring that Indonesia remains strong and adaptive amid global challenges ahead. (BPMI of Presidential Secretariat) (RD/TM)
