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Impact of Politics on the Economy of the Republic of Indonesia- Insights from State-Owned Bank CEO

Jakarta

Indonesia has entered a political year ahead of the 2024 elections. The political year will affect economic and political conditions in the country.

Main Director of Bank Rakyat Indonesia (BRI) Sunarso believes that the political year, including the 2024 elections, will contribute to national economic growth.

“A year before the election can grow the economy by 0.32%. Then one year later it has the potential to grow the economy by 0.23%,” said Sunarso in a RDP with Commission VI of the DPR, Tuesday (28/3/2023).

According to him, this political year will not affect investors’ attitudes significantly. Sunarso said the political year in Indonesia would be different from usual years.

“In Indonesia, elections are part of the democratic process which feels more and more commonplace every day. People are now more politically educated so they are more independent, this is what makes it a normal thing,” he explained.

Sunarso also explained that apart from the political year, economic shocks in the world must also be watched out for. Although you have to stay positive.

According to him, this shaken economic condition could be an opportunity for Indonesia. “Investors are like sparrows, put money, the slightest disturbance, can run away,” he said.

Therefore, to seize these opportunities, stability and growth are needed. “If you want to turn global challenges into opportunities, provide stability and growth,” concluded Sunarso.

(kil/hns)

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