Jakarta – The Indonesian government plans to discreetly inject additional funds โintoโ two state-owned banks, bank Rakyat Indonesia (BRI) and Bank Negara Indonesia (BNI), according to Finance โMinister Purbaya yudhi Sadewa. Theโ moveโ aims to boost economic liquidity without triggering public concern, โขfollowing an initial placement of IDR 200 trillion across five state-owned banks.
Purbaya indicated the decision stems from a desire to accelerate base money (M0) growth towards an ideal rate of 20%, currently standing at 13% after โคrising from nearโข 0%. He โemphasized that these fund transfers are not fiscal expansion or budget alterations, but rather an optimization of existingโ funds to stimulate private sector growth. “Ideally it would beโ 20% less. I still have โฃanother IDR 250 trillion in the central bank, we’ll โsee what it’s like,” Purbaya stated.
Toโข avoid potential โฃmisinterpretations and public backlash, Purbaya โฃconfirmed โfuture placements willโ be conducted without public announcement. โฃ”Even if โwe wont to addโ more, we won’t tell โคyou now โฃbecause the money operation is normal again, because then manyโฃ people will protestโค ‘Purbaya โis โmoving money carelessly, using the budget carelessly’,โ becauseโข they don’t understand that I’m just moving money, it has nothingโฃ to do with changes to the budget,” he explained. “I didn’t change the budget at all, nor โdid I carry out fiscal expansion. This โis just optimizing the money for economic growth so that the private sector can grow.”
The โคMinister โขadded that โคonly regional development banks (BPD) โคwill be โขexcluded from this secretiveโ approachโ toโข furtherโฃ fund allocation.
(aid/hns)
