Bank Indonesia Releases The 2022 Task Implementation Report And Policy Direction 2023

Photo: Capture YouTube BI screen

JAKARTA Bank Indonesia (BI) launched the 2022 Indonesian Economic Report (LPI) which is a manifestation of the central bank's transparency and accountability report in accordance with the mandate of legislation.

BI Governor Perry Warjiyo said his party also launched a 2022 Sharia Economics and Finance Study (KEKSI) which is part of real support in national economic development.

"We see that synergy and innovation are two key words for Indonesia's economic resilience in dealing with a series of global turmoil and being a strategic element in accelerating economic revival towards an advanced Indonesia," he said on Monday, January 30.

Perry explained, there are three things regarding the outlook for the future economy. First, he is grateful and optimistic that economic stability will be maintained and the process of economic recovery continues and is alert to the impact of global economic turmoil on the performance of the national economy.

Second, the importance of consistency, innovation, and synergy (KIS) in maintaining economic stability in the midst of increasingly prominent challenges.

"And the third is transparency and accountability needs to be well communicated to support the effectiveness of policies through the establishment of rational expectations," he said.

For information, the LPI 2022 describes the evaluation of the implementation of central bank policies in 2022, policy directions, and targets for the 2023 period.

It was stated that the Indonesian economy last year remained strong supported by Bank Indonesia's policy in synergy with the national policy mix.

"In the future, the 2023 Bank Indonesia policy mix, which is in close synergy with national economic policies, will continue to be directed to strengthen resilience and accelerate economic recovery and revival," he stressed.

In this regard, monetary policy in 2023 will remain directed at maintaining stability (pro-stability). Meanwhile, macroprudential policies, digitizing payment systems, developing the money market, and inclusive and green economy will continue to be directed to accelerate the national economic recovery (pro-growth).

"The BI policy direction also synergizes with the national economic policy mix to encourage Indonesia's economic growth to return to the medium term track towards the vision of an Advanced Indonesia," he said.

Perry also revealed that his party continues to finalize the Garuda Project related to the digital rupiah architecture. He stated that Bank Indonesia together with the Ministry of Finance and ministries/agencies play an active role through financial channels to strengthen global coordination in mitigating short-term global economic risks and strengthening medium-term economic resilience.

"The Garuda project by Bank Indonesia is a project that includes various digital rupiah architectural design initiatives. Considering that the Garuda Project is a national scale initiative, synergies with various stakeholders will continue to be pursued in order to strengthen policy effectiveness," concluded Perry.