IDX Optimists Indonesia's Capital Market Grows Positively In 2023 Despite Global Economic Uncertainty

The board of directors of the Indonesia Stock Exchange (IDX). (Photo: Doc. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) is optimistic that the Indonesian capital market will grow positively during 2023 amid economic uncertainty at the global level.

IDX President Director Iman Rachman at the "IDX Management Meeting" in the SCBD area, Jakarta, Thursday, February 2, targeted the number of Indonesian capital market investors to reach 13.5 million Single Investor Identification (SID) by 2023, growing 35 percent year on year (yoy) compared to 10.3 million SID by the end of 2022.

"The growth of capital market investors this year is targeted to increase 35 percent from 10.3 million or an increase of around 13.5 million," said Iman, quoted from Antara.

He revealed that the number of capital market investors in the country has increased by 100 thousand SIDs in the past month, bringing the total number of investors to 10.4 million SID as of January 31, 2023.

The Financial Services Authority (OJK) targets the number of Indonesian capital market investors to reach 20 million SID by 2027.

Iman targets 57 companies to list their initial shares on the IDX in 2023, up from the target of 56 companies by 2022.

However, until the end of 2022, 59 companies managed to list their initial shares in the Indonesian capital market, or exceeded the target of the year.

He explained that listed companies in Indonesia have grown by 45.8 percent over the past five years, and are the largest among ASEAN regions, or have only lost to Malaysia.

To date, there have been 835 companies listed on the Indonesian capital market.

On this occasion, his party targets capital market capitalization in the country to reach IDR 13,500 trillion by 2026.

OJK targets Indonesia's capital market capitalization to reach IDR 15,000 trillion or 70 percent of Gross Domestic Product (GDP) by 2027.

Until the end of 2022, Indonesia's capital market capitalization reached IDR 9,509 trillion, and Indonesia's GDP is projected by the International Monetary Fund (IMF) to reach IDR 23,386 trillion in 2027.