Senior Bank Indonesia Board of Governors member Destry Damayanti stated that the press conference on the 2025 State Budget Plan (APBN) held this morning has helped to mitigate the recent depreciation of the rupiah. The conference, attended by Coordinating Minister for Economic Affairs Airlangga Hartarto, Finance Minister Sri Mulyani, and Financial Sector Member of the Government Transition Task Force Thomas Djiwandono, contributed to the strengthening of the Garuda currency.
During a meeting with Commission XI of the DPR RI in Jakarta, Destry mentioned that the government’s clarification provided reassurance to investors regarding Indonesia’s fiscal management. This increased market confidence has led to the rupiah strengthening, even compared to neighboring countries.
Refinitiv data shows that the Indonesian rupiah strengthened against the US dollar, closing at Rp16,390/US$ on Monday (24/6/2024), a 0.3% increase from its weakest point at Rp16,470/US$. The Dollar Index (DXY) also dropped to 105.67 at 3:00 PM WIB, lower than the previous day’s close of 105.79.
A press conference held by Airlangga Hartarto, Sri Mulyani, and Tommy Djiwandono at the central office of the Directorate General of Taxes, Ministry of Finance emphasized the good communication between President Joko Widodo’s administration and President-elect Prabowo Subianto’s synchronization team. Sri Mulyani assured that Prabowo’s flagship programs, including free nutritious meals, are incorporated into the 2025 State Budget draft without causing a fiscal deficit increase. Thomas Djiwandono also affirmed the incoming president’s commitment to maintaining the deficit limit in the state budget and continuing disciplined fiscal management.
Source: CNBC Indonesia
