BI: GTAP Model Becomes Strategic Tool for Regional Economic Policy Analysis

Purwokerto (ANTARA) - The Bank Indonesia Purwokerto Representative Office (KPwBI) assesses that the application of the Global Trade Analysis Project (GTAP) model serves as a strategic tool in regional economic policy analysis, capable of producing data-based and comprehensive recommendations.

KPwBI Purwokerto Head Christoveny in Purwokerto, Banyumas Regency, Central Java, on Monday, stated that the utilisation of the GTAP model is becoming increasingly relevant amid the increasingly complex and uncertain global economic dynamics.

“Changes in the global industrial structure, technological disruptions, volatility in international trade, and geopolitical dynamics make the policy-making process increasingly multidimensional,” she said during her speech at the “Workshop on GTAP Model Applications for Policy Analysis” in Purwokerto.

In the workshop organised by the Central Indonesian Economists Association (ISEI) and ISEI Purwokerto in collaboration with the Faculty of Economics and Business at Universitas Jenderal Soedirman (FEB Unsoed) and Bank Indonesia Purwokerto, Christoveny said that policy formulation cannot be done partially but must consider cross-sectoral and regional aspects holistically.

“Through this workshop, participants are equipped with conceptual understanding as well as practical use of the GTAP model, from data processing, simulation, to preparing policy briefs,” she said.

She stated that Bank Indonesia Representative Offices in the regions also act as advisors to local governments and stakeholders in strengthening regional economic and financial policies.

According to her, this role is reinforced through synergy and coordination, one of which is through the Regional Economic Growth Acceleration Team (TP2ED), which has been established as a collaborative forum to promote economic growth.