UNS — The Chairman of the Board of Commissioners of the Financial Services Authority (DK-OJK), Prof. Wimboh Santoso was presenting a scientific oration in Universitas Sebelas Maret (UNS) Surakarta, Virtual Convocation Period VI of 2020. In his oration on Saturday morning (5/12/2020), Prof. Wimboh takes-on the topic of Exiting the Covid-19 Economic Crisis. This topic is important, especially because currently the community and government must find an out-of-the-box innovation to solve the economic problem.
Prof. Wimboh also congratulates the graduates who had finished their studies. Moreover, he also delivers a certain point regarding the effect of Covid-19 on the economic condition and the role of OJK in accelerating economic recovery. “Due to the pandemic, our economics dropped to minus 5.3 in June 2020. This condition, however, has improved in the third quarter with minus 3.5. Therefore, various policies currently are in place, both from the fiscal and monetary sides. To accelerate the economic recovery, the government with its fiscal policy has set a quite huge deficit budget, up to minus 6.3%. This prediction lasted until 2021 with minus 5.7%,” he explains.
In 2020 there is a special budget, specifically designed by the government, up to 695.2 trillion Rupiah, allocated for the health sector (14%), social protection (34%), and sectoral (for certain ministerial or institution, including local government) with 9% of the budget, Micro Small and Medium Enterprise, corporation funding, and business incentive.
“This policy was taken to maintain the growth of domestic demand. Moreover, from the monetary sector, an accommodative policy was taken by the Governor of the Bank Indonesia (Central Bank of Indonesia) by providing stimulus in the form of GWM reduction. Thus the banking sector will have a loose space, maintaining inflation rate, and reducing the interest rate. OJK also provides an accommodative policy especially to avoid further stress in the banking sector in the event of debtors cannot pay in installments,” the further explains.
OJK also provides a moratorium to limit the number of debtors categorized as a non-performing loan, through POJK Number 11. Total restructuration made is 934.8 Trillion rupiah with total debtors of 7.5 million people. Out of the total, 371.1 trillion rupiah represent MSME debtors and 182.3 trillion is financing institution or leasing. Besides that, Prof. Wimboh also encourages the UNS graduates to join various digital start-up prepared through OJK Fintech Center.
“The current ongoing Covid-19 pandemic is, indeed, creating less and fewer jobs, but we can innovate our skill through the digital entrepreneur. You are welcome to visit Fintech Center, be it digital payment, digital lending, and other digital services,” Prof. Wimboh hopes.
Until today, Indonesia has one Decacorn start-up company with a transaction volume reaching 10 million dollar and 4 (four) unicorns with more than 1 million dollar in transaction volume. Closing his remark, Prof. Wimboh wishes that UNS graduates can establish new startups.
“Again, we hope that there will be more new startups, especially from UNS graduates. Once again, we appreciate the establishment of a Fintech Center in UNS,” he concluded. Humas UNS
Reporter: Bayu Aji Prasetya
Editor: Dwi Hastuti
