Indonesia's economic growth maintained despite trade war: minister

Indonesia's economic growth maintained despite trade war: minister

Coordinating Minister for Economic Affairs Darmin Nasution. (photo: Antara/Zubi Mahrofi/ FA)

"In fact, the Gini ratio, as an indicator of income distribution, has been improving," Nasution stated.
Jakarta (ANTARA) - Coordinating Economic Affairs Minister Darmin Nasution is buoyant of Indonesia's economic growth staying under control in the midst of global uncertainties arising from the US-China trade war.

"Since early last year, the global economy has faced several uncertainties and turmoil here and there, particularly owing to the trade war. We, however, remain capable of maintaining our economic growth," Nasution affirmed in his opening remarks during the Capital Market Summit and Expo (CMSE) 2019 held here on Friday.

The minister pointed out that Indonesia's economy has not only grown but also improved its growth quality, coupled with the national inflation rate that is controlled at a low level and a reduction in the poverty and unemployment rates.

"In fact, the Gini ratio, as an indicator of income distribution, has been improving," he stated.

Furthermore, Indonesia has clocked a better and higher credit rate, thereby indicating that the nation has been venturing ahead to become an investment state, he remarked.

"We can witness the journey of Indonesia's capital market over the last 42 years since it was reactivated on August 5, 1977. At that time, the market capitalization was only Rp2.73 billion, and after 42 years, it has grown 2.500 times to reach a value at Rp7,173 trillion," he noted, adding that the number of investors has also reached a record of 1,049,000, as of August 15, 2019.

In a bid to attract more investors, he has encouraged Indonesian capital market regulators to simplify policies to facilitate easier public access.

Indonesian Financial Services Authority (OJK) Chairman Wimboh Santoso stated that the Capital Market Summit and Expo 2019 was organized as an initiative to expand the roles of capital market and capital market financing, including for increasing public awareness of equitable distribution of technology and development.

The meeting and exhibition were organized to also celebrate the 42nd anniversary of the capital market.

"This is a good momentum for the public to move aggressively in benefiting the capital market," he noted.

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