Sri Mulyani Not Afraid Of IDR 15 Thousand Potential Per US Dollar, Fadli Zon: Classical Arguments Like Ahead Of The 97-98 Crisis

Deputy Chairperson of the Gerindra Party Fadli Zon. (Instagram @fadlizon)

JAKARTA - Deputy Chairperson of the Gerindra Party Fadli Zon opened his voice regarding the attitude of the Minister of Finance (Menkeu) Sri Mulyani who claimed not to be worried about the rupiah exchange rate approaching the psychological level of Rp. 15,000 per United States (US) dollar.

According to Fadli, the Minister of Finance's calm regarding the rupiah exchange rate was similar to what happened before Indonesia experienced a monetary crisis (krismon) in July 1997. After about two years of the crisis, Indonesia finally experienced an economic crisis.

"Classic arguments, such as before the 1997-1998 economic crisis, don't need to worry because Indonesia's economic fundamentals are strong. Finally, the rupiah depreciated from 1 USD = IDR 2200 to IDR 16,000," Fadli wrote on his Twitter account, @fadlizon, Wednesday, July 6.

Fadli said that the crisis experienced by Indonesia at that time paralyzed economic activity in the country because many companies at that time went out of business. As a result, unemployment is widespread and exacerbated by rice harvest failures in many areas and riots in May 1998.

"The monetary crisis was followed by an economic, social and political crisis," said Fadli.

The statement by the Minister of Finance mentioned by Fadli occurred during the DPR Plenary Meeting with the agenda of the Factions' Views on the Draft Law (RUU) on Accountability for the Implementation of the 2021 State Revenue and Expenditure Budget (P2APBN).

The meeting was held at the Senayan Parliament Complex, Jakarta on Tuesday, July 5.

In addition to talking about the rupiah which is close to Rp. 15,000, the Minister of Finance also directly received the views of the factions that had been read out by the representatives of each faction.

This faction's view was given because previously the Minister of Finance as the government's representative had submitted the Government's Statement on the 2021 FY P2APBN Bill at the Plenary Meeting last week.

"As we know that the Government has submitted a bill on the 2021 P2APBN at the last Plenary Meeting. In accordance with article 173 paragraph (2), therefore, for this purpose, the Secretariat General has submitted a list of the names of the spokespersons for each faction who will present their views. The factions take turns in order," said Meeting Chairperson Sufmi Dasco Ahmad in the opening.