“We all have a moral responsibility to this nation to keep the wheels of the economy turning, in order to secure jobs and public welfare,” he stated at the Indonesian Capital Market Stability Press Conference at the Main Hall of the Indonesia Stock Exchange (IDX) in Jakarta on Monday.
Hartarto appealed to the community to avoid unverified information and to create an atmosphere of peace and mutual respect.
“Active public participation in maintaining order will help accelerate the recovery of the situation and minimize the negative impact on the economy,” he emphasized.
To capital market players, he informed that the government is fully capable and committed to maintaining national economic stability.
According to him, Indonesia’s foreign exchange reserves are recorded at an adequate level of US$152 billion by July 2023.
Furthermore, a healthy banking system, along with synergistic coordination of fiscal, monetary/financial, and real sector policies, is also in place, Hartarto added.
With solid fundamentals, he is confident that the impact of short-term volatility will not alter Indonesia’s positive economic trajectory in the future.
“The target of maintaining growth above 5 percent remains realistic and achievable, with a full commitment to maintaining macroeconomic stability and public welfare,” he pointed out.
During the press conference, the economic chief assured that the government will continue to establish communication with investors and issuers in the Indonesian capital market to ensure that investment plans are not disrupted and remain on schedule.
“We hope investors and issuers understand that expressing public aspirations is guaranteed in a democratic country, provided it is carried out appropriately,” he conveyed.
Over the past week, from August 28-31, national protests took place in several major cities in Indonesia, triggered by public discontent with the House of Representatives’ stance and perceived excessive allowances.
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Translator: Muhammad Heriyanto, Resinta Sulistiyandari
Editor: Azis Kurmala
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