Son Of Conglomerate Aburizal Bakrie Optimistic That The Economy Will Soon Recover As Foreign Exchange Reserves Hit Record Highs
JAKARTA - Vice Chairman of organization, membership, and regional empowerment of Kadin Indonesia Anindya Bakrie is optimistic that the national economy will soon recover reflected in the april 2021 foreign exchange reserves that broke the record high in Indonesia's history.
Bank Indonesia reported foreign exchange reserves at the end of April 2021 of USD138.8 billion.
"Foreign exchange reserves are an indicator of a country's economic strength and can measure the ability to finance international trade," Anindya Bakrie said in a press release, quoted from Antara, Friday, May 21.
According to Anindya, with large foreign exchange reserves, the government and BI can always maintain rupiah exchange rate to remain stable.
"Exchange rate stability is one thing that the business world needs. With such a large foreign exchange reserves and expected to be greater, the potential for currency exchange rate volatility can be minimized by monetary authorities," said the conglomerate's son Aburizal Bakrie.
Anindya explained that the increase in foreign exchange reserves also indicates that global investor confidence in indonesia's economy as a whole is improving.
"Our highest foreign exchange reserves in history reflect the optimism and confidence of investors in the economic policies of President Jokowi's government," said Anindya Bakrie, a candidate for chairman of the Indonesian Chamber of Commerce in 2021-2026.
According to him, although economic growth in the first quarter of 2021 is still contracting 0.74 percent, but still better than other emerging market countries.
"The second quarter of 2021 and beyond economic growth will grow significantly and optimistically in accordance with the government's target of 7 percent," he explained.
In addition, Anindya who has traveled throughout Indonesia sees that such oil palm and rubber farmers enjoy significant price increases.
"The increasing price of Indonesia's leading commodity that absorbs large energy encourages the improvement of the current account deficit (CAD)," he said.