Commission XI of the Indonesian House of Representatives held a fit and proper test for the candidate Deputy Governor of the Bank Indonesia (BI) Thomas Djiwandono on Monday, January 26.
In his presentation, Thomas introduced the concept of the 'GERAK Strategy' which is designed to support the growth of the national economy in an adaptive and agile manner.
He explained that the GERAK Strategy consists of five main themes, namely strengthening governance (governance) of strong and credible policies; increasing policy effectiveness; strengthening the resilience of the financial system; accelerating synergy between fiscal, monetary, and financial sector policies; sustainability of financial transformation.
According to Thomas, governance aspects are the main foundation of the strategy and assess the regulations that guarantee the independence of Bank Indonesia since 1999, as well as the Financial Sector Development and Strengthening Law (P2SK) which was issued in 2023, which has provided a strong foundation for the implementation of BI's credible policies.
"The point is that I feel that these 5 things can build or support sustainable economic growth," he explained.
He said that the five strategies aim to build and support sustainable economic growth in an adaptive and agile manner, so it is called the GERAK Strategy.
Thomas emphasized that the independence of Bank Indonesia must still be maintained and will not reduce the independence of BI in carrying out its mandate in a prudent and measured manner.
"This means that synergy with other stakeholders, synergy with the fiscal, synergy with OJK and other financial institutions does not reduce the independence of Indonesian banks," he said.
Furthermore, Thomas expressed optimism that Indonesia has great potential to become a developed country by 2045, and to achieve this goal, economic growth must be inclusive and sustainable.
He explained that this could be achieved by mobilizing all growth engines together, ranging from fiscal and monetary policies, the financial sector, to the investment climate.
"Finally, it helps all other sectors, namely the value-added sector which has a high multiplier, as well as the resilient and labor-intensive sectors to grow in harmony and thus sustainable and inclusive growth can be achieved," he said.
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