BI: Synergy And Innovation Are The Key To Maintaining Central Sulawesi's Economic Resilience

Illustration (Photo: Doc. Antara)

PALU - Deputy Head of the Bank Indonesia Representative Office (KPwBI) of Central Sulawesi Province (Sulteng) Miko Bayuaji said synergy and innovation are the keys in supporting and maintaining economic resilience in the future.

"Currently, we need synergies from all parties to be able to guard the province of Central Sulawesi to continue to grow and be able to support the national economy," said Miko Bayuaji at the 2023 Bank Indonesia Annual Meeting, Central Sulawesi Province, quoted from ANTARA, Thursday, November 30.

He conveyed that the economy in Central Sulawesi experienced positive growth in the process of economic recovery, and continued to grow since 2022 after experiencing natural disasters of earthquakes, tsunamis, and liquefaction in 2018, then the COVID-19 pandemic. Even so, he said, Central Sulawesi still has various challenges in efforts to grow the economy in the region, both from global and domestic threats. For this reason, he said, the 2023 Bank Indonesia Annual Meeting carries the theme "Sinergi Strengthens National Economic Resilience and Awakening" because strong synergies together with all parties are the key in guarding Central Sulawesi Province to continue to grow, and can support the national economy. He explained that economic growth in Central Sulawesi Province in the third quarter of 2023 reached two digits, namely 13.06 percent year on year (yoy) which is still greatly influenced by the nickel processing and export industry sector abroad. Meanwhile, inflation in this province is also still maintained at a low and stable level, until October 2023 it reached 2.65 percent yoy. "However, of course, we need to increase vigilance because there are still many risks from the global side, as well as the dynamics of domestic economic development," he said.

Based on the Financial Sector Development and Strengthening Law (UUP2SK), Bank Indonesia has the aim of achieving stability in the value of the rupiah, payment systems and the financial system to support sustainable economic growth.

Therefore, he invited all relevant stakeholders and Bank Indonesia partners to work together in directing the policy mix to strengthen economic resilience and recovery, so that Bank Indonesia's monetary policy in the future will always be stable.

"We cannot work alone, so synergies and work together to strengthen economic resilience," he said.