According to Siregar, this resilience is backed by strong capitalization, adequate liquidity, and a manageable risk profile, which can help the financial services sector face future economic uncertainty.
“Supply-side indicators remain mixed, with a persistent trade balance surplus and high foreign exchange reserves. Although the Manufacturing PMI (Purchasing Managers’ Index) remains in the contraction zone,” he said in Jakarta on Monday.
One factor strengthening the prospects for Indonesia’s financial sector is the reciprocal tariff agreement with the US.
Siregar said he believes that the 19 percent tariff imposed by the US on Indonesian products is a positive step that opens up new opportunities for Indonesian products to become more competitive.
Furthermore, he welcomed the decision by global rating agency Standard & Poor’s (S&P) to keep Indonesia’s sovereign credit rating at BBB for the long term and A-2 for the short term, with a stable outlook.
According to Siregar, the rating reflects investor confidence in Indonesia’s financial sector.
“The assessment reflects continued confidence in Indonesia’s fiscal strength, economic resilience, and solid financial sector,” he said.
Several positive developments, such as the easing of global trade tensions and the Indonesia-US trade agreement, are expected to provide momentum to optimize the performance of the financial services sector, particularly in encouraging financing for national priority sectors.
“The OJK fully supports the policies and facilitation provided by the government to increase industrial competitiveness and realize existing opportunities, including increasing the role of financial services institutions in financing schemes for priority government programs while continuing to implement good risk management and governance,” Siregar said.
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Translator: Bayu Saputra, ,Cindy Frishanti Octavia
Editor: Azis Kurmala
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