The 45th Anniversary Of The Indonesian Capital Market, Sri Mulyani: Tested Through Various Crisis

Minister of Finance Sri Mulyani (Photo: Doc. Antara)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani said that the development of Indonesia's capital market was tested through various historical events in the economy. These events start from the colonial era, during the struggle for Indonesia's independence, and during the financial crisis, both in Indonesia and the global financial crisis.

According to him, every pressure that is obtained always affects the sentiment of the Indonesian capital market, including the COVID-19 pandemic and the latest war in Ukraine.

“All of these are certainly challenges that must be faced by the Indonesian capital market. Improving and reforming Indonesia's capital market governance is the key to success in dealing with various shocks," he said in a written statement on the occasion of the 45th anniversary of the Indonesian Capital Market, Wednesday, August 10.

The Minister of Finance added that capital market activity has grown rapidly, driven by the reform program that has been set, business process automation, investor protection, and accelerated market deepening.

“When the Composite Stock Price Index or JCI experienced turbulence to its lowest point in March 2020 at the beginning of the pandemic. However, we were then able to respond well through policies that were established jointly with the government and the SRO (Self Regulatory Organization), as well as other stakeholders. Extraordinary shocks can be handled optimally," he said.

Meanwhile, the current performance of the capital market continues to gain confidence as seen from the number of participants who reached 9 million investors.

"We see, the trading volume is now 8 times since 2017. This is also an extraordinary achievement," he said.

On this occasion, the Minister of Finance expressed high appreciation and appreciation to the Indonesian capital market for taking the initiative to use transaction fees as funds for the implementation of Corporate Social Responsibility (CSR) in various parts of Indonesia.

The Minister of Finance hopes that all capital market players can continue to struggle and not give up easily in the face of a world that is currently experiencing turmoil.

“Continue to strive to improve the reliability, stability and credibility of the Indonesian capital market. Happy 45th anniversary of the Indonesian capital market. Jaya is always the Indonesian capital market," closed the Minister of Finance Sri Mulyani.