On the last quarter of the year 2019, DBS Indonesia recently hosted its annual seminar, attended by 200 priority customers from various industries and institutions, leaders, executives and professionals. ‘Reassessing Growth & Stability in 2020 Amidst Global Dynamics’ was the theme for this year. All related issues were discussed and presented from practitioners, political, economy and capital market perspectives.
From the Republic of Indonesia Government perspective, as presented by Luky Alfirman (Director General of Budget Financing and Risk Management, Ministry of Finance) and according to World Economy Outlook, global economy growth in 2019 is at 3,0% and is projected at 3,4% in 2020. While at global trade volume growth 2019 is at 1,1% and is projected 3,2% in 2020. The Government continue to build and develop the five priorities as outlined by President Jokowi. Those five priorities are human resources development, infrastructure development, regulation simplification, bureaucracy simplification, and economic transformation.
Chief Economist of DBS Indonesia, Masyita Crystallin, explained Indonesia needs to reform its economy structure and to have a current account deficit (CAD) to support the economy growth up to 5,5%-6% in order to overcome from middle income trap. Another perspective from President Director of Batavia Prosperindo Asset Management, Lilis Setiadi predicted for a better growth in 2020, where emerging markets are more prospective than the developed markets, this to include Indonesia. Lilis added, investors need to focus more on the long term investment and utilize short-term volatility. To conclude the seminar, Executive DIrector Indikator Politik Indonesia, Burhanuddin Muhtadi added that the economy became the most important factor for Jokowi’s Presidential era. Burhanuddin sees that second term of Jokowi is a combination of ‘the good, the bad and the ugly’, which accommodate dreams about the economy and political stability
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