The 6th Largest In The World, Erick Thohir Says The Indonesian Batangan Gold Reserve Is Still Losing To Singapore

JAKARTA - Minister of State-Owned Enterprises (BUMN), Erick Thohir revealed that Indonesia's gold bullion reserve stock is still lagging behind Singapore. Even though Indonesia has the sixth largest gold reserve in the world, which is 2,600 tons.

Erick said this figure came from his calculations with the Coordinating Minister for the Economy, Airlangga Hartarto, who said Singapore had a gold bullion reserve stock of 228 tons.

"Earlier, the Coordinating Minister and I counted, if the gold bullion reserve, we and Singapore still lost, sir. Singapore is 228, yes, Mr. Coordinating Minister," Erick said in his report before the inauguration of the Gold Bank Service, Wednesday, February 26.

The amount of Indonesia's gold bullion reserve stock is currently recorded at 201 tons stored in the Central Bank, PT Pegadaian (Persero) including in the form of savings and deposits, as well as 17.5 tons at Bank Syariah Indonesia (BSI).

"We are only 201 tons of this, meaning we are still left behind," continued Erick.

On the same occasion, Erick also appreciated the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia who boosted national gold production from the previous 110 tons per year to 160 tons per year.

On the other hand, Erick said that the gold circulating in the community reached 1,800 tons of gold which was stored independently, as under the pillow. For this reason, Erick ensures that the government will prepare a formal financial system that is safe for the community.

"Well, indeed we have to start convincingly, banging on them, that this is a safe financial system for them," said Erick.