BI Boss Perry Warjiyo: Digital Economic Growth Is A New Normal For Indonesia

Governor of Bank Indonesia Perry Warjiyo (Photo: screenshot of OJK Youtube)

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo said that the digital economy growth in the country was quite high during the COVID-19 pandemic. According to him, this is very important in supporting the national economy.

In his records, the online shopping or e-commerce sector was the segment that recorded the highest growth with an increase of 48.4 percent year-on-year (yoy) to Rp. 395 trillion.

This was followed by the use of electronic money which increased by 35.7 percent yoy to Rp. 278 trillion. As well as access to digital banking services by customers, which shot up 30.1 percent on an annual basis worth IDR 35,600 trillion.

"This is a very high growth in the digital financial sector in Indonesia," he said in a webinar organized by the Financial Services Authority (OJK) on Tuesday, October 12.

According to Perry, this condition is clearly very profitable for business actors and is believed to further make the domestic financial services industry develop. In fact, the BI boss predicts what Indonesia is experiencing has not yet reached its potential level and will continue to advance.

“This will continue to grow, and will certainly grow, and support the Indonesian economy. We believe that the digital financial sector supports the national economy and has an important role in expanding financial inclusion and of course supporting the financial industry," he explained.

Perry added, the COVID-19 pandemic situation is also considered to be one of the factors in the increase in the volume of digital financial transactions and the capitalization value of the funds circulating in it.

"The growth of the digital economy is one of the new normal conditions for Indonesia," he said.