Minister Of Finance Purbaya Optimistic JCI In Short To The Moon

Minister of Finance Purbaya Yudhi Sadive. (Photo: ANTARA)

JAKARTA - Minister of Finance Purbaya Yudhi Sadewa expressed his belief that the Composite Stock Price Index (JCI) has the potential to experience a significant increase in the near future.

This belief emerged after Purbaya had a direct dialogue with market players on the Indonesia Stock Exchange (IDX) and the JCI will continue to show a positive trend in the future.

"I think with the discussion, they will be more sure that the improvement is structural and will continue to develop in the future. I think the JCI will tend to continue to rise for maybe another 10 years, as I said earlier so in short JCI to the moon," he said on Thursday, October 9.

He conveyed that the government still has a fairly large fiscal space if necessary to increase the stimulus and if the economy moves well, the stock market will definitely follow suit.

"I still have enough money to add more if needed but automatically if the economy is good, the stock market will increase," he said,

Purbaya explained that the dynamics in the stock market reflect investors' views on the national economic outlook and at this time, liquidity is still in its early stages and it has not been a month, so it is natural that the impact is not too visible.

He also mentioned the placement of government funds in several Himbara Banks and Regional Development Banks (BPD) as part of a strategy to increase liquidity.

"It's still less than 1 month away (the placement of funds at Bank BUMN and BPD), it's impossible to suddenly run away but they can calculate in the future what the economy will look like and I think with the discussion earlier they will be more sure that the improvement is structural and will continue to grow," he said.