Download PDFWe came to BI's launch of 2016 Economic Report with keynote speech made by BI's governor Agus Martowardojo and the coordinating minister of economic affairs Darmin Nasution. A number of panelists including Maurice Obstfeld (IMF), BI's senior deputy governor Mirza Adityaswara, as well as Prof. Mohammad Ikhsan were also attending discussions. Some highlights from the conference:
- Global recovery appears to be on track and would still be improving in the close future. However, it is argued that medium-term outlook for advanced economies and commodity exporting nations remain subdued in the medium term (IMF). The IMF also maintains a view that despite a presence of upside and downside, risks tend to skew to the downside.
- Downside risks emerge from tighter global financial condition and US further appreciation, inward-looking policies, spillover from Chinese slowdown, ageing population, and slowing productivity growth.
- Domestically, BI's three policy responses; namely coordination and synergy, response of policy mix, and consistency and continuity; seem to have reaped result. BI's policy stance seems to be neutral this year, prioritising stability in macroeconomic fronts and financial health.
- Darmin Nasution maintains that a good governance in the economy has managed to overturn the slowdown that has actually started to take place since 2011. In 2016, Indonesia's growth was higher compared to other countries which happened to experience most sluggish year. In addition, three other indicators are improving such as unemployment rate, poverty rate, and Gini ratio that are declining.
- Darmin expects economic growth this quarter to be 5.1% yoy on higher commodity prices and returning harvest season.
- Current structural homework includes: relaxing 'disguised' import restriction of almost 32% of total HS code spread across ministries, the need of land certification to promote financial inclusion (with 5, 7, 9 million target in 2017, -18, -19). (BI and CMEA )
Sumber : IPS RESEARCH
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