Ensuring New Government Transition, Airlangga Reveals Market Investors are Going Full Throttle

Coordinating Minister for the Economy Airlangga Hartarto (Photo: dock. VOI)

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto said that the transition of the new government, namely President and Vice President-elect Prabowo Subianto-Gibran Rakabuming Raka, will remain smooth in front of capital market players at the Indonesia Stock Exchange (IDX), Tuesday, July 9.

"And also to the market, we don't need to worry because the transition process will be smooth. We have seen in recent times related to the preparation of the 2025 State Budget (RAPBN)," said Airlangga at the GUNA listing ceremony, Tuesday, July 9.

Airlangga added that the company that IPO today is quite good because it exports around 25 percent of its total production and relies on the strength of domestic consumption of 75 percent.

"This event is good because it is the launch of a company whose production is made from domestic raw materials and its sector is Agriculture so its product is an IPO that processes downstreaming from agriculture. So in my opinion this is a model of a good company and has strong resilience, especially since the sector is non-cyclical so there is no cycle," he said.

Airlangga added that his presence at the IPO event was to encourage investors to continue investing. Therefore, capital market players do not need to wait and see, aka wait for political stability to invest in Indonesia because the government transition is certain to run smoothly and smoothly.

"So the Stock Exchange doesn't need to wait and see, just go full throttle. Earlier, Mr. Irfan said that the Stock Exchange is now net inflow. So that's important because yesterday there was a net outflow but it has returned to what we call the green zone. That's it," he said.

Airlangga said that the 2025 RAPBN had been consulted with the president-elect and the 2025 RAPBN contained in the Financial Note would be read directly by President Jokowi on August 16, 2024.

According to Airlangga, all of Prabowo Subianto's flagship programs including the economic growth target would be accommodated in the 2025 RAPBN.

"It has been consulted with the President-elect, Mr. Prabowo. And it will also be read by the President on August 16. So there is no need to worry about the growth target, the target of flagship work programs. Almost all of them have been accommodated in the RAPBN later," he explained.