Despite The Rising BBM Price, The OJK Boss Is Optimistic That The 2022 Economic Growth Is Above 5 Percent

Photo: Doc. Antara

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar is optimistic that Indonesia's economy will continue to grow strongly above five percent in 2022, even though there is an increase in the price of fuel oil (BBM) which will affect inflation and the economy. "The increase in fuel prices actually gives a signal that an increase in demand in Indonesia can be responded to by increasing investment and in turn production and supply of various needed goods and services," Mahendra said at a press conference quoted by Antara, Monday, September 5. Thus, he hopes that banks and all financing institutions can respond by immediately distributing intermediation functions to real sectors that require financing and credit in order to increase production as well as make investments. Mahendra explained that the increase in fuel prices is a response awaited by the government to face the state budget deficit, which is a separate risk due to the recent increase in world oil prices.

Therefore, he continued, the increase in fuel prices that had been set gave clarity on the position and policies taken by the government to continue to carry out sustainable fiscal policies, even though uncertainty about oil prices continues. This also gives a very clear signal and maintains the belief that the government is taking policies that are indeed difficult but must be implemented," he said. With existing beliefs, he hopes that banks can increasingly utilize liquidity to immediately disburse credit, either through working capital loans (KMK) or investment loans.

Currently, KMK is increasing quite high and if economic growth continues to be maintained, investment loans can also participate in the future.