BI governor projects 39-percent rise in digital transactions in 2021

BI governor projects 39-percent rise in digital transactions in 2021

Governor of Bank Indonesia (BI) Perry Warjiyo. ANTARA/screenshot YouTube BI/pri

E-commerce can grow by 39 percent; e-money, 32 percent; and digital banking, 22 percent
Jakarta (ANTARA) - Indonesia's digital transactions are estimated to rise nearly 39 percent in 2021 to reach Rp370 trillion amid restrictions on public activities due to the COVID-19 pandemic, Bank Indonesia (BI) Governor Perry Warjiyo stated here, Tuesday.

Three areas of the digital economy envisioned to clock the highest growth are e-commerce, e-money, and digital banking.

"E-commerce can grow by 39 percent; e-money, 32 percent; and digital banking, 22 percent," Warjiyo stated during an online seminar on the government's policy and leadership during the COVID-19 pandemic.

Warjiyo remarked that the growth in digital transactions will encourage economic recovery amid pressures from the pandemic. Digital economy is expected to help improve financial inclusiveness and equalize financial access.

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The central bank is sanguine that the digital economy's fast growth would drive development of micro-, small-, and medium-scale enterprises (MSME), and to this end, requisite steps should be taken through policies that prioritize safety and prudence.

"This is an opportunity to support economic recovery and economic inclusion, including for MSMEs, but it also bears risks, including cyber risks," Warjiyo stated.

Economic recovery will additionally hinge on the handling of COVID-19 and vaccination.

BI will continue to encourage domestic loans to record optimal economic growth.

"Last year, we could survive, and Insya Allah (God willing), economic recovery will continue during this year and the next year. BI has forecast our economy to record a growth of 4.1 percent to 5.1 percent (in 2021)," Warjiyo stated.
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