CIDISS. The stability of the decline in the amount of rupiah that is happening now will not reach the point of the monetary crisis as in 1998. The government is not panic about the decline in the rupiah, but is now more aware and observing Indonesian market data and events in the international world.
That statement was affirmed by the Deputy for Study and Management of Strategic Economic Issues of the Presidential Staff Office, Denni Puspa Purbasari in DBS Asian Insight Seminar entitled ‘A Look into Stability and Sustainability: Political and Economic Perspective’ in Jakarta, Tuesday, September 4 2018. This seminar also presented Coordinating Minister for Politics, Law and Security and political observer Yunarto Wijaya.
Regarding the current economic conditions, Denni also mentioned that Indonesia had experience as a country that had experienced previous crises. Because of that, believe me, the government can take preventative action so we don’t fall into a crisis.
According to Arief Wana as an economic observer, it is undeniable that the dollar attack will be sustainable. He began that when viewed from trade war and rising US interest rates, the impression of dollar strength will continue. But the dollar attack will not be continuous, because the strength of the dollar will hamper exports and economic development of the United States.
Arief said that the policies of the Government, Bank Indonesia and OJK would be very influential. Stability is a very important theme in the near future. Bank Indonesia will continue to raise interest rates to strengthen the rupiah to maintain stability. Whether in the short or long term, the government is expected to maintain momentum and secure the country’s economic stability.
Meanwhile, Wiranto said, strict political stability and law enforcement would improve social stability and security so that it could boost the country’s economy. No country can develop its economy when the country’s political security is disrupted. Entrepreneurs will not speculate capital on an unstable country. Indonesia has several economic development and security challenges, but the government adapts to the development of culture and the relevance of future technologies.
Behind the weakening of the Rupiah, the government is expected to take precautionary measures so that the rupiah does not fall too deeply by issuing a number of strategic monetary policies to boost the strengthening of the rupiah.
By: Ajeng Mufadillah *)
