Widodo made the statement in his directives at the 2021 Macro Economy Outlook event organized by a national media platform accessed from Jakarta on Thursday.
"Through labor-intensive programs, government spending, and other measures, job creation can be achieved in a short period of term. However, the creation and expansion of employment will rely on contributions from business actors from the private sector," the president noted.
The head of state remarked that business and private actors can play in role in expanding employment opportunities by reviving existing businesses and starting new businesses, either with their own funds, funding from banks, non-banks, or by inviting foreign investors.
The head of state reminded that in order to boost the private economy, bank credit should be distributed prudently whilst maintaining healthy levels of bank operations.
"I am pleased to receive a report on the minimum capital adequacy ratio of 23.78 percent, and the bank has prepared adequate reserves if there is an increase in risky credit," he expounded.
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