Rp800 Trillion Unemployed In BI, Purbaya Said That The Economy Was Not Built In The Past

The Minister of Finance of the Republic of Indonesia, Purbaya Yudhi Sadive. (Photo: Doc. Antara)

JAKARTA - Minister of Finance Purbaya Yudhi Sadive revealed that so far there have been a lot of funds belonging to the government, both central and regional, that have settled without being used optimally to encourage economic growth.

According to Purbaya, the central government had an unemployed fund of up to Rp800 trillion at Bank Indonesia in 2003.

"So all this time, saying you don't have money, the money is piled up. From month to month it was Rp800 trillion (in) 2003, Rp800 trillion there. (year) 2004, 2005 had Rp650 trillion, cash was unemployed there," he said at the 1st anniversary of the Prabowo-Gibran administration, Thursday, October 16.

He added that now the funds have been transferred to the banking system so that it can be channeled to the real sector.

"What I did was channel it to the system to banks, so that from there it went down there now. But my money didn't go away. I still have the money, but the place is different. Now the place is in banking," he said.

He emphasized that the funds still belonged to the government, only the place to be moved from the central bank to a commercial bank so that it can be used by the private sector so that it can move the economy.

Purbaya also said that he had reminded President Joko Widodo to channel part of government funds into the financial system so that it would not only settle in Bank Indonesia.

"If your money is in BI, your sin is two. First, you don't build the economy, second, private sectors can't use that money either. If you put the money in a bank, commercial bank, for example Himbara, you only have one mistake," he explained.

"Yes, if you can't absorb the budget, you won't build it, but the second sin has disappeared. Now the private sector can use the money to encourage the economy," he added.