MSMEs Can Be An Economic Rescuer From Global Recession, As Long As They Get Cheap Financing

Illustration. (Photo: Doc. Antara)

JAKARTA - Director of the Center of Economic and Law Studies (CELIOS) Bhima Yudhistira said that MSMEs can save the economy from the global economic recession as long as they get cheap financing.

"MSMEs need cheap financing because the financing gap in MSMEs is still quite wide, including the micro sector," said Bhima Yudhistira, quoted from Antara, Friday, January 27.

Bhima assessed that MSMEs need integrated assistance, related to several challenges currently being faced, such as taking sides with cheap financing for micro-enterprises, domestic market protection against imported products, and digitization.

Therefore, MSMEs need the support of financing programs. Not only through KUR, but also government programs and other financial institutions with relatively cheaper interest rates.

If MSMEs get this support, it is that the global economic recession will have a small impact on the national economy. This is because the contribution of exports to the Indonesian economy is relatively small.

"This condition causes the Indonesian economy to continue to grow this year, especially supported by MSMEs," he said.

The contribution of MSMEs to GDP, he continued, reached 60 percent, 97 percent labor absorption, then from the domestic market there are 190 million productive ages in Indonesia that require food, drink, basic needs, education, and digital services.

"So the Indonesian market is still growing and MSMEs will continue to repeat good history in times of crisis, always being a savior," he said.

On a different occasion, Sampoerna's Chief of SME, Funding, FI, and Network Sahabat Bank (Bank Sampoerna), Adji Anggono said banks are ready to support the expansion of the MSME business this year.

Bank Sampoerna is committed to providing loans to MSMEs directly or indirectly through fintech partners, multifinance companies, cooperatives, peer-to-peer lending companies and other institutions.

"In 2023 of course, we will remain flexible in meeting the needs of MSMEs, including in terms of blessing or provision of additional funds needed for further business expansion," he said.

In addition, Bank Sampoerna is also trying to facilitate MSMEs to enter the digital payment ecosystem through Sampoerna Mobile Merchant which can be downloaded by MSME entrepreneurs to be able to accept payments using QRIS.

Bank Sampoerna also supports various payment gateway partners (payment gates) in providing a more diverse financing mechanism.