Jokowi Values Indonesia's Economic Growth Is Still Safe

President Joko Widodo (Jokowi). (Photo: Aris Nurjani/VOI)

JAKARTA - President Joko Widodo (Jokowi) said Indonesia's economic growth was still above 5 percent amid the weakening global economic conditions.

Jokowi said that the condition of each country is facing the weakening of the global economy, one of which can be seen from the weakening of the currency against the United States (US) dollar.

"In the midst of weakening the global economy, we must be grateful that our growth is still above 5 percent. If we look at the percentage of depreciation of our currency, it is also still safe, safe for the real, financial, and safe sector for inflation," Jokowi said in his remarks at the BNI Investor Daily Summit, Tuesday, October 24.

Jokowi said he had received a report regarding the development of the latest economic situation from the Financial System Stability Committee (KSSK). In the report, it was notified that bank credit growth was still at the level of 8.69 percent.

"Yesterday I met with the Governors of BI and OJK, I asked how much credit growth was at? I think it's still good at 8.69 percent, I think this is a pretty good number," he explained.

Jokowi added that the high interest rate policy in the United States (US) also threatens Indonesia's economic stability. As well as making a lot of capital flows out and into the United States.

"The high and long-term increase in interest rates by the US has also further complicated (economic conditions), especially developing countries, capital outflows running back to the US, complicating all of us," he explained.

Jokowi added that the government will continue to calculate the state's financial condition to find out how strong Indonesia's economic resilience is in defense.

"That's right, we have to calculate, how long will we hold it, if I check the APBN until Friday, October 13, Mrs. Finance Minister Sri Mulyani still holds the money, I think it's still really big, around Rp. 616 trillion," he said.

"This morning I met Mrs. Srimul [Sri Mulyani], she still smiled I was still calm, but if [Srimul] had no smile, he had to ask questions," concluded Jokowi.

For information, based on Bloomberg data, the rupiah weakened 0.38 percent to the level of IDR 15,933 per US dollar in yesterday's trading Monday, October 23.

According to the Jakarta Interbank Spot Dollar Rate (JISDOR) benchmark rate of Bank Indonesia, the rupiah exchange rate was at IDR 15,943 lower than IDR 15,856 on the previous trading day.