[ad_1]
The statement is based on the results of the KSSK quarterly routine meeting held on Thursday (26/7).
The meeting was held to discuss and monitor the economic system, monetary, fiscal, macroprudential, payment, capital market, government securities (SBN), banks, non-bank banks and deposit insurance. "The KSSK considers that the basic condition as well as the stability of the economy and the financial system are maintained," Finance Minister Sri Mulyani said at the same time as the KKSK chairman at a conference of press at the Ministry of Finance of Djuanda, Tuesday, July 31. The maintenance of financial stability, Sri Mulyani continued, is reflected in the level of inflation maintained, adequate financial liquidity, adequate foreign exchange reserves, a controlled state budget deficit and a surplus primary balance in the first half of 2018.
In addition, in the banking sector, as well as improvements reflected in the growth of loans, accompanied by a level of banking risk controlled and a high liquidity.
The Financial Services Authority (OJK) noted that at the end of June 2018, credit expansion had increased by 10.75% on an annual basis, as against 7, 75% during the same period last year. At the same time, the ratio of NPLs declined to 2.67% in June 2018 from 2.79% in May.
Nevertheless, Sri Mulyani sued, KSSK examined the pressure on the exchange rate and the state securities. To date, BI has recorded an exchange rate of 14,420 Rp per US dollar
This is due to the anticipation of a rise in the interest rate of the US Federal Reserve to the second semester and the feeling of US trade war and its major trading partners.
"We will continue to watch and anticipate both things," he said.
BI Governor Perry Wardjiyo added that the central bank is closely monitoring global developments. Perry estimates that the Fed's rate hike will happen again twice this year. The rise in interest rates has also been achieved by other developed countries such as Japan.
"External risks are not only experienced by Indonesia, all countries live too," he said.
On the domestic side, the KSSK will maintain the balance between the current deficit and the need to maintain the momentum of economic growth. In addition, KSSK will also anticipate the development of political conditions in the country.
As a reminder, based on the Central Bureau of Statistics (BPS) from January to June 2018, the deficit of Indonesia's trade balance amounted to US $ 1.02 billion. The deficit is due to cumulated exports of only US $ 88.02 billion, while imports in the first half of this year amounted to US $ 89.04 billion.
Therefore, as a medium-term policy, the President of the OJK Commission, Wimboh Santoso, supports the government's efforts to boost exports, for example by increasing export financing. In addition, OJK also encourages the financing of infrastructure projects and the development of the tourism sector.
For information, KSSK includes the Ministry of Finance, Bank Indonesia (BI), the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS). Periodically, KSSK members hold meetings every three months. Scheduled, KSSK will hold a regular meeting in October. (lav)
[ad_2]
Source link
