Jakarta - Finance Minister Purbaya Yudhi Sadewa asked investors not to be afraid of seeing the decline in the JCI. He even suggested investors enter the market when prices are below.
"Don't be afraid, just take it down," said Purbaya at Halim Perdanakusumah Air Base, Jakarta, Monday (18/5).
Purbaya said the decline in the JCI was more influenced by short-term sentiment. According to him, Indonesia's economic fundamentals are still good.
"It's okay, we'll fix it later. So the economic foundation is good," he said.
He said he would focus on maintaining the economic foundation so that growth would not be disrupted. The government will also enter the bond market more significantly starting today.
"Last week it has entered but only a little. Starting today we will enter more significantly," said Purbaya.
According to Purbaya, this step was taken to keep the bond market under control. He said this could also hold foreign investors out of bonds because they were afraid of losing money due to price declines.
"That will help the movement of the rupiah a little," he said.
Purbaya also touched on the assumption that the weakening of the rupiah makes the current situation considered similar to the 1997-1998 crisis. He rejected the comparison.
"Different. '97-'98, the policy was wrong and social and political instability occurred after a year of recession," he said.
He said the current conditions are different because Indonesia's economy has not entered a recession and is still growing.
"We are not in a recession now, the economy is still growing strongly. So there is still room to improve everything," said Purbaya.
According to him, technically the JCI has the opportunity to strengthen again in one to two days.
"Don't forget to buy our shares again," he said.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
