OJK Ready To Support 8% Economic Growth Target Through Financing Schemes

, 03 Nov 2024

By ferry@insightinnews.com The Financial Services Authority (OJK) is ready to support the economic growth target of 8% set by President Prabowo Subianto. This support will come through financing and credit schemes aimed at bolstering government priorities. Mahendra Siregar, the Chairman of the OJK Board of Commissioners, stated that they have prepared various measures in the financial services sector to help boost Indonesia's economic growth. He mentioned that OJK has been in touch with Prabowo's government team to express their willingness to collaborate on the new administration's priorities. "Specifically, the financial services sector is encouraged to increase credit and financing, strengthen the financing system infrastructure, and develop the credit reporting system," Mahendra said during the OJK press conference in October 2024, on Friday (1/11). OJK has prepared by simulating financing and credit schemes for government priority programs, such as green economy initiatives and housing for low-income communities. "We also provide support to enhance food security, the Free Nutritious Meal program, and to improve the quality and reach of downstream programs," he stated. Mahendra emphasized that OJK has taken proactive steps and communicated with the government team, expressing readiness to collaborate on government programs. He also noted that Indonesia's financial sector remains stable despite various global economic challenges, including geopolitical risks and a slowdown in global growth. He believes this stability is a strong foundation for the financial services sector to support domestic economic growth. Mahendra mentioned that the risk levels and capital adequacy in the financial services sector are sufficient. "We are also ready to support and collaborate with the government and stakeholders to back the priority programs we anticipate," he concluded.

Tag:

We would appreciate your comments

Business_Economy