JAKARTA - Minister of Finance, Sri Mulyani, seems to be a bit of a central figure who can be a witness as well as a historical actor in the three major economic crises that Indonesia has faced in the last 30 years.
According to her narrative, Indonesia has its own uniqueness. Indonesia is considered capable of finding a way out of the shackles of pressure. Not only that, RI is considered to be able to rebound to get up stronger after being hit by a critical situation.
“From the three crisis episodes in the last 30 years, Alhamdulillah, Indonesia has always been able to come out of the crisis and even recover stronger, become and use the crisis opportunity to repair, reform, strengthen. This is our country's journey", she said through a virtual channel while providing briefings to LPDP scholarship recipients, quoted Wednesday, March 16.
The Minister of Finance explained that Indonesia is a country that is resilient in facing pressures and challenges from various crises, starting from the 1997-1998 crisis, the 2008-2009 global crisis, to the COVID-19 pandemic in 2020.
It is important to note that during the crisis at the end of the 90s, Sri Mulyani had just returned to her country after completing her Doctor of Philosophy (Ph.D.) education in the United States.
“During 1997-1998 it became a place for all of us to be able to control the crisis. As a young economist who recently returned to Indonesia, I have had many opportunities to carry out crisis management activities, including at that time through the University of Indonesia”, she said.
Leaping after this period into the 2008-2009 global crisis period, Sri Mulyani became one of the key figures in the birth of the Financial Services Authority (OJK) as a supervisory body for the financial industry. Here, she represented the government's position when carrying out the mandate as Minister of Finance in the era of President Susilo Bambang Yudhoyono's leadership.
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Until now, the role of OJK in supervising and protecting the financial services sector has been continuously strengthened through several strategic steps as a result of collaboration between the government and the House of Representatives.
Now, when the COVID-19 Pandemic occurs, Sri Mulyani plays a major role in various state policy reforms. This can be seen from the presence of the Law on Harmonization of Tax Regulations (HPP) and the Law on Government and Regional Financial Relations (HKPD).
Through this pair of regulations, the government has a new reference in the national taxation scheme as well as the development of new instruments in the central and regional state financial management system.
"And in 2020-2022 when we face a pandemic, we also carry out a lot of reforms", she stressed.
It was stated that the reforms carried out, both structural and fiscal reforms, were aimed at building a stronger economic foundation.
“Pressure and challenges can create crises but do not destroy us. We even then rose again to become a stronger country", concluded the Minister of Finance, Sri Mulyani.
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