Galih Sumber Ekonomi Baru, Pemerintah Perdalam Sektor Keuangan

Deputy Minister of Finance (Wamenkeu) Suahasil Nazara. (Photo: Doc. Antara)

JAKARTA - The government through the Deputy Minister of Finance (Wamenkeu) Suahasil Nazara revealed that the financial sector plays an important role in creating new sources of economic growth in the future.

According to him, the financial sector is considered to have the potential to continue to develop and encourage the domestic economy.

"We have big homework to deepen Indonesia's financial sector in the future," he said in a written statement, quoted on Friday, January 27.

The Deputy Minister of Finance explained that Indonesia's new sources of economic growth can be encouraged by the use of domestic production, the use of the digital economy, development of a green economy, development of MSMEs, downstreaming of the palm oil industry and natural resources, as well as reforming the financial sector.

"Regarding MSMEs, especially from the banking side, how to provide access to capital for our MSMEs. Here the financial sector plays a very important role," he said.

Previously, President Joko Widodo gave directions to increase the target of distributing bank credit to MSMEs by around 30 percent by 2024.

"We hope that this can continue to improve our gross domestic product (GDP) through domestic use and production and provide funds, provided how it develops, including by our financial sector," he added.

Furthermore, the Deputy Sri Mulyani said that the financial sector was still dominated by the banking industry.

This means that it is still very open to the possibility of developing other industries, such as insurance, pension funds, and financing.

"If we look at the bank's assets, we are below neighboring countries. Our capital market capital capitalization is also below. Our insurance industry assets per GDP are also low. Our pension fund assets for GDP are also relatively not too high. This is our big homework, how do we encourage development in the financial market and we continue to push it forward," he stressed.

The Deputy Minister of Finance hopes that several further relaxations for bank restructuring issued by the Financial Services Authority (OJK) can be used properly to encourage Indonesia's economic recovery.

"The most important ultimate goal of what we do in every job we do, whether in government, whether in banking, in the financial sector, the most important ultimate goal is to create prosperity. We remain optimistic, but still be aware of various things that could arise. We hope that in we build, we will continue to encourage Indonesia's economic recovery," concluded Deputy Minister of Finance Suahasil Nazara.