Coordinating Minister Airlangga Pede Ekonomi Indonesia Grows 5.2 Percent In 2022

Coordinating Minister for Economic Affairs Airlangga Hartarto. (Photo: ANTARA)

JAKARTA - Coordinating Minister for Economic Affairs, Airlangga Hartarto, revealed in the midst of the current economic disruption, the financial sector has contributed greatly to economic recovery during the pandemic.

"We remember that in March and April 2020 it was a challenge and at that time 140 countries had problems and we were in an alley where there is no light in the end of the tunnel", said Airlangga at the National Meeting of SJK Market Conduct Supervision, Thursday, July 7.

Airlangga assessed that communication and close relations between Bank Indonesia (BI) and the Financial Services Authority (OJK) and the government could bring Indonesia out of the situation.

Even today, he said, the Composite Stock Price Index (JCI) still recorded a positive trend and exceeded the period before the Covid-19 pandemic.

"Economic growth can also reach 5 percent. In Q2 we can still reach 5 percent and until the end of the year with a situation like today the government is quite concerned with the growth of between 5 and 5.2 percent", Airlangga continued.

Previously, on the same occasion, OJK Chairman, Wimboh Santoso, reported that the stability of the financial sector was still stable and was in a positive trend.

During the COVID-19 pandemic, the JCI recorded its lowest point on March 24, 2022, which was 3937.63.

For this reason, OJK issued a market stabilization policy in the form of prohibiting short-selling, trading bus stops, adjusting auto-rejection limits, and buying back stocks without a GMS.

With this policy, said Wimboh, the JCI continues to move in a positive direction.

At the end of December 2021, the JCI was at the level of 6,581.48 up 10.08 percent throughout the year.

"The high interest of retail investors and the implementation of fundraising through the capital market also have a positive impact on the JCI", explained Wimboh.

Wimboh continued, as of July 6, 2022, the JCI was still at the level of 6,646.41 or rose 0.99 percent year-on-year despite being affected by global economic conditions.

"This achievement surpassed the performance of the index before the pandemic", concluded Wimboh.