Beware of Impact of Turkey Economic Conditions: President Says
Jakarta, MINA — President Joko Widodo (Jokowi) has reminded his cabinet ministers to beware of the impact of global economic uncertainty, including the latest conditions in Turkey, Antara News reported.
“I remind you that strengthening foreign exchange reserves is a very important thing that we must do, so that our economic resilience can remain increasingly strong in facing global economic uncertainty, including the latest impact on the Turkish economy,” Jokowi said, when opening a limited cabinet meeting at the Presidential Office here, on Tuesday.
In the meeting, which was also attended by Vice President Jusuf Kalla, the Head of State also reminded on the importance of maintaining stability of the rupiah exchange rate and the current account deficit.
,The president assessed that the fiscal aspect is that the Ministry of Finance has been managing the state budget carefully. The current state budget deficit is 2.12 percent, and in 2019, it will fall below two percent.
“One of the things that I have stressed is that the capital expenditure budget must be enlarged continuously,” the president said, adding that on the monetary side, he sees that the management by Bank Indonesia has been very careful.
The government also supports the steps of the Financial Services Authority in strengthening banks. The position of the Indonesian capital adequacy ratio (CAR) is still strong, which is at 20 percent more.
“We have to maintain exactly 22 percent,” he said, adding that he wanted to know the various efforts made to strengthen foreign exchange reserves.
“I want to make sure that there is progress in the field. One update is that we can really strengthen our foreign exchange reserves,” he remarked.
A few weeks ago, the president had conveyed the need for mandatory biodiesel and increased levels of domestic content. He called on large state enterprises (BUMN) that still use imported components to pay attention to this. (T/ RS5 / RS1)
Mi’raj Islamic News Agency (MINA)
