When TPN Ganjar-Mahfud Compares The Performance Of The Indonesian Capital Market During The Jokowi And SBY Governments

Capital market illustration (Photo: dock. Antara)

JAKARTA - Economic expert of the Ganjar Pranowo-Mahfud MD National Winning Team, Irwan Ariston Napitupulu, revealed that the performance of the Indonesian capital market during the leadership of President Joko Widodo (Jokowi) was fairly low.

Irwan said that the capital market performance in Jokowi's leadership was only able to be at 46.1 percent from 2019-2023.

"Then, I also tried to compare it to the previous era of the president, namely the leadership of Susilo Bambang Yudhoyono (SBY) which was said to have been autopilot at that time. The one (Jokowi) is working hard and (SBY) is autopilot," said Irwan in the agenda of the 2024-2029 Investment Policy and Capital Market Dialogue in Jakarta, Monday, January 8.

"I turned out to be checking, I was also surprised, how come President SBY has a capital market performance of up to 489 percent, while President Jokowi has until January 5, 2024 (the opening of the JCI) is around 46.1 percent," he continued.

He also admitted that he was surprised about the results. According to Irwan, in the midst of massive infrastructure development, he should have boosted the performance of the Indonesian capital market.

"How come it's so different? What's wrong? Something wrong? Because feeling like it should be much better than President Jokowi, if I look at the many developments," said Irwan.

Suddenly Irwan also asked about this. He considered that the increasingly massive development should have a positive impact on the performance of the Indonesian capital market.

"So, where did something go wrong? Should, right, this good development has an impact on the Composite Stock Price Index (JCI). We as capital market players, right, want to also get the positive impact of this development," he said.

Furthermore, Irwan also tried to explore the matter because he was also one of the investors.

Saat dirinya mengetahui adanya pembangunan infrastruktur yang cukup masif, ia lantas berinvestasi di perusahaan semen atau baja.

However, Irwan was so surprised that the impact of this turned out to be far from what he expected.

"We'll see first if it's in the first period. I, right, investors once there is infrastructure development, yes, I bought it like a cement company, steel like that. How come, it turns out that it's not what I expected the impact will be," he said.

"It turns out, I read the news. Sorry, I had to open it a little. It turned out that the steel was imported, the impact of the steel company from here was not using a company that had gone public," added Irwan.

Therefore, Irwan hopes that this will not happen again. Because, when infrastructure development continues to be boosted, the people must also feel the impact.

"Well, I hope, it doesn't happen again, it's like that because we residents, the people have the right to also enjoy the results of this development. Don't let the development be good and the people don't receive the positive impact, at least from the capital market," he said.