Bank Indonesia (BI) emphasized its commitment to supporting the realization of Indonesia’s economic growth. This commitment was demonstrated by releasing several macroprudential policies.
“Macroprudential policy to encourage economic growth is through macroprudential liquidity policy. For banks that distribute credit to priority sectors, we provide liquidity incentives in the form of an effective reduction in GWM,” said BI Governor Perry Warjiyo at the press conference of the Financial Sector Stability Committee ( KSSK), at the BI office, Friday (18/10).
So far, he continued, BI has distributed macroprudential liquidity policy incentives amounting to IDR 256.5 trillion up to October 224.
“To state-owned banks IDR 119 trillion, to national private commercial banks IDR 110.2 trillion, BPD IDR 24.6 trillion, and foreign bank branch offices IDR 2.7 trillion,” explained Perry.
Perry revealed that the macroprudential liquidity policy incentives were distributed to priority sectors, namely downstream mineral and coal food, then also the housing and property sector, also to MSMEs, automotive, and also the tourism and creative economy sectors.
Meanwhile, from the fiscal side, BI has provided fiscal incentives to priority sectors, including the housing sector.
“From Bank Indonesia, for banks that distribute to priority sectors, we provide liquidity incentives. This is one of the synergy policies between Bank Indonesia and the government to jointly encourage economic growth, including encouraging credit financing from banks,” explained Perry.
Apart from that, BI will also continue to ensure that liquidity in banking as a whole is more than adequate.
“One of the indicators is the ratio of liquid assets to third party funds (AL/PDK), which of course overall is more than sufficient. Namely, the AL/PDK in September was 25.4 percent,” he explained.
BI, continued Perry, will also ensure that the direction of interest rates in banking continues to be conducive to lending and financing to the real sector.
“Among other things, the one-month deposit interest rate was recorded as stable at 4.75 percent and the credit interest rate in September was stable at 9.2 percent compared to previous levels,” he stressed. (Z-11)
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