Economic transformation basis for healthy growth: BI

Economic transformation basis for healthy growth: BI

Bank Indonesia Logo. (ANTARA/HO-BI Documentation)

Jakarta (ANTARA) - Economic transformation is an important basis for sustaining healthy economic growth, according to Bank Indonesia Deputy Governor Dody Budi Waluyo.

"Economic recovery and transformation need to be pursued together as a synergy to accelerate activities in the real sector and to redirect economic performance to its potential growth rate," he stated at the opening of the BI-ISEI (Indonesian Economists Association) virtual public discussion for Eastern Indonesia (KTI), here on Wednesday.

Waluyo, who is also the head of Division II for Policy Studies and Formulation of the ISEI Central Management, said there are three issues that ISEI members need to pay attention to in order to support the economic foundation through structural reform.

The first issue is related to productivity, which requires efforts to increase output, he pointed out. The measurement of productivity needs to be reevaluated so that the results can meet the quantity and quality of work, he advised.

The next issue is related to human resource development, which can be pursued through improving the quality of human resources and labor, which play an important role in boosting competitiveness, Waluyo said. These efforts are in line with the increasingly widespread use of digital technology and automation in the industry, he added.

The last issue is related to capital, he noted. Policies to attract and facilitate investment need to be made to encourage the role of the private sector so that they can be more optimal in financing development, he added.

"In the regions, the increase in capital accumulation is supported by infrastructure development, especially for connectivity and energy supply,” he said.

Meanwhile, the BI–ISEI KTI public discussion was held on July 27 - 28, 2021 as part of a series of activities leading to the XXI August 2021 ISEI Congress in Makassar. Earlier, similar public discussions were organized in Sumatra and Java.

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