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Expert Appreciates the Minister of Finance’s Strategy in Facing the Economic Crisis


Jakarta – Economic expert at the University of Indonesia, Teguh Dartanto, said that the national economic condition was quite safe in facing the economic crisis. This cannot be separated from the various strategies of the Minister of Finance Sri Mulyani in responding to global uncertainty.

“The Asian financial crisis in 1998 changed the architecture of Indonesian banking, so that it was far more prudent in managing risk,” he explained in a discussion on television, Saturday (18/3)

Teguh also said that coordination across financial sectors such as the Ministry of Finance, Bank Indonesia, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS) is currently good enough, so it is believed to be able to deal with the effects of the global economic turmoil.

“There is definitely a domino effect, but not as big as we worry about. With quite intense coordination from the four authorities, as well as experiences from crises and pandemics, we can mitigate these concerns,” he added

The man who also serves as the Dean of the Faculty of Economics and Business, University of Indonesia (FEB UI) also appreciated the appeal from President Jokowi who had warned Indonesia to continue to be vigilant even though Indonesia was relatively unaffected.

“Minister of Finance with data and analysis also shows that Indonesia is safe,” concluded Teguh.

In the same place, Chairman of the Supervision Agency of Bank Indonesia, Muhammad Edhie Purnawan, said that the global economy was expected to improve even though there had been some turmoil in American banking in the last few days.

“If we look at inflation and commodity prices, there is a decline in inflation because America is one of them implementing a tight monetary policy. So what is happening globally and that should be a common concern, “he said.

With regard to the national economy, Edhie considers that Bank Indonesia is still relatively safe because the link between the bankruptcy of the three banks in America and Indonesia is not high.

“Banks in Indonesia don’t need to worry about that,” he added.

Edhie reminded that due to the world turmoil, the things that need attention are companies in the start-up sector. This is because many startups are connected with big banks in Europe and America.

Not to forget, he asked the public to believe the Minister of Finance Sri Mulyani’s statement that there would not be a relatively large impact on the incident at American banks.

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