Jakarta, The Indonesia Post – Minister of Finance Sri Mulyani Indrawati stated that the very positive performance of the Indonesian capital market in 2022 was a good preparation for entering 2023 amidst the still challenging economic and financial environment.
“We hope that the achievement of closing 2022 in a very resilient manner will be good preparation for entering 2023,” she said at the opening of the 2023 Indonesia Stock Exchange Trading in Jakarta, Monday.
Sri Mulyani said 2023 will be a year that will have many very tough tests, starting from controlling global inflation, preventing a recession, and including increasing economic recovery after the COVID-19 pandemic.
Therefore, the government and related authorities place great emphasis on integrity, accountability and credibility in 2023, one of which is through the Financial Sector Development and Strengthening Law (UU P2SK).
The Financial System Stability Committee (KSSK) has a task in 2023 to carry out consistently in building a strong, stable, credible, accountable and trusted financial sector foundation.
“This is a task that is not easy but must be done. This is also a task to reach the huge capital market potential in Indonesia,” she explained.
On the same occasion, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said that increasing integrity, accountability and credibility is something that must be prioritized in 2023. “Because then we will be able to fill the empty glass,” said Mahendra.
He stated that one of the things he wanted to achieve through integrity, accountability and credibility was to increase the number of capital market investors, which had actually reached 10.3 million, which was 10 times or 1,000 percent increase in the last five years since 2017.
According to him, the number of investors at 10.3 million is indeed a very large number, but in fact it is only 4 percent of Indonesia’s total population, so there are still many opportunities for improvement.
The market capitalization which has reached 50 percent of Indonesia’s gross domestic product (GDP) must also be increased.
Indonesia’s market capitalization reaches IDR 9,500 trillion or US$600 billion, which means 50 percent of Indonesia’s GDP.
“Even though it is 50 percent of our market capitalization to national GDP, it is still far behind from above 100 percent of other ASEAN countries,” said Mahendra. (mhn/bbs)
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