KSSK Affirms Financial System Stability To Be Maintained In Semester I

Photo: Doc. Bank Indonesia

JAKARTA The Financial System Stability Committee (KSSK) stated that the Indonesian economy, especially the financial sector, throughout the first semester of 2023 was in a well-maintained condition.

Minister of Finance (Menkeu) Sri Mulyani said this was a positive signal in the midst of global pressure that had not subsided.

"Financial system stability in the second quarter of 2023 is maintained," he said at a press conference in Jakarta, Tuesday, August 1.

According to the Minister of Finance, KSSK has a strong commitment to continue coordination and vigilance amid the uncertainty of the world economy.

"We will anticipate the impact of its propagation on the domestic," he said.

The Minister of Finance explained that economic travel until the first half of this year was not as difficult as the initial prediction. This indication can be seen from the latest report by the International Monetary Fund (IMF) which revised the world's economic growth.

IMF pada April menyebut pertumbuhan global sebesar 2,8 persen namun kini sedikit lebih baik menjadi 3,0 persen year on year (yoy) tegasnya.

Meanwhile, the government targets Indonesia's economic growth to be 4.5 percent to 5.3 percent. It is noted that achievements throughout 2023 are always above 5 percent.

To note, KSSK is a collaboration from the Ministry of Finance, Bank Indonesia (BI), the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS).

This committee is tasked with coordinating in the context of monitoring and maintaining financial system stability, handling crises, and coordinating problems that have systemic potential.