Once Predicted There Will Be Perfect Storm In 2023, OJK Boss Suggests This

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar had predicted that the Indonesian economy would experience a perfect storm in 2023.

However, until now Indonesia has not experienced a perfect storm.

"Last year, during December, the Coordinating Minister for the Economy and also me, during the day using the term there is a term that there is a risk of a perfect storm in 2023, but in fact it is not," Mahendra said at the National Seminar Outlook for the Indonesian Economy, Friday 22 December.

Mahendra conveyed that the problem of the Indonesian economy in the future is not about the challenges, but the uncertainty that will be faced.

"It doesn't mean global conditions are not good. Most likely it will be worse, but uncertainty and unknown situation which are a risk to business, investment is certainly for the authorities, I think it is much lower than before," he explained.

In addition, Mahendra suggested, currently it is better to focus on improving and maintaining the economy and future strategies.

"Now the question is like this, the strategy for realization in 2024. The president's directive is clear, regarding the main projects driving growth related to downstreaming, related to transition and green energy, related to IKN and others. We focus on that, build with priority focus, synergy, good strategy," he said.

Mahendra added, for next year Indonesia's focus will build policy priorities, and the current condition of the financial services sector is well maintained.

"Regarding the carrying capacity of the financial services sector, we can convey that we see the conditions in 2023 from liquidity glasses, capital adequacy glasses, credit growth room glasses. Obviously, the space is health and the resilience of the banking financial services sector, whether it is financing in the capital market in the financial industry and others, well maintained," he concluded.