Jakarta - Minister of Finance (Menkeu) Purbaya Yudhi Sadewa again clarified the concerns of many people regarding the repetition of a crisis like the one in 1998. According to the Minister of Finance Purbaya, the weakening of the rupiah is currently in the range of 4-5 percent.
This figure is much smaller than the 1998 crisis, when the rupiah weakened many times. This was conveyed by Purbaya after accompanying President Prabowo to meet with former BI Governor Burhanuddin Abdullah, as well as several other figures in the economic field.
Purbaya assessed that the pressure on the rupiah and the stock market at this time does not reflect the basic conditions of the Indonesian economy. He said that the economic fundamentals are still strong. He said that Indonesia has recently received a series of pressures, ranging from MSCI, rating agencies, to exchange rate movements.
However, from a fundamental point of view, he assessed that there was no problem. Purbaya said the government would improve the way of socializing economic achievements to the public. Purbaya also responded to the JCI which moved in the range of 5,900. According to Purbaya, stock price movements ultimately follow company fundamentals and the economy.
Purbaya said the government would continue to improve the economy in the future. He predicted that the JCI could strengthen again.
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