Maintaining Economic Growth and Strengthening MSMEs, Purbaya Confident Rupiah Will Follow Suit

Finance Minister Purbaya Yudhi Sadewa has confirmed that the government is currently working to strengthen the MSME economy as part of efforts to reinforce the rupiah’s exchange rate against the US dollar. He believes this approach will be able to strengthen the rupiah, which is currently weakening due to uncontrollable global market sentiment. “Because there are several global sentiments in the world market that we cannot control,” Purbaya said. “But as long as we ensure the Indonesian economy grows and businesses like MSMEs can survive, eventually the rupiah will strengthen,” he stated. Purbaya explained that this can happen because people will invest in places where the economy is growing well and socio-political stability is maintained. “So, if MSMEs can grow strongly, socio-political stabilisation is certainly maintained, and we at the Ministry of Finance and the government will ensure that the MSME economy is looked after going forward,” Purbaya said. Moreover, the government has now lowered the interest rate on micro-business loans for MSME players from 22 per cent to just 8 per cent. “President Prabowo has even ensured that the interest rate on Micro Business loans can drop from 22 per cent to eight per cent,” Purbaya said. According to him, this policy is implemented as a commitment by the Ministry of Finance and the government so that the MSME economy can continue to grow strongly in the future. “That is one indication of President Prabowo’s alignment with the Indonesian economy, especially the people’s economy and MSMEs,” he stated.