Senior Bank Indonesia Board of Governors member Destry Damayanti stated that the press conference held this morning regarding the 2025 State Budget Plan (APBN) has helped to stabilize the recent depreciation of the rupiah.
During the conference, attended by Coordinating Minister for Economic Affairs Airlangga Hartarto, Finance Minister Sri Mulyani, and Financial Sector Member of the Government Transition Task Force Thomas Djiwandono, the Garuda currency closed stronger for the day.
Destry mentioned during a meeting with Commission XI of the DPR RI in Jakarta that the government’s clarification provided reassurance to investors about the continuity of Indonesia’s fiscal management. This boost in market confidence has contributed to the strengthening of the rupiah, surpassing even that of neighboring countries.
Refinitiv data shows that the Indonesian rupiah finally gained ground against the US dollar after a period of decline, breaking through the Rp 16,400/US$ level. The rupiah ended the day stronger by 0.3% at Rp16,390/US$ on Monday. Previously, it had reached its weakest point at Rp16,470/US$.
Meanwhile, the Dollar Index (DXY) at 3:00 PM WIB dropped to 105.67, a decrease of 0.12 from the previous day’s close of 105.79.
This morning’s press conference held by Airlangga Hartarto, Sri Mulyani, and Tommy Djiwandono at the central office of the Directorate General of Taxes, Ministry of Finance highlighted the positive communication between President Joko Widodo’s administration and the synchronization team of President-elect Prabowo Subianto. Sri Mulyani emphasized that Prabowo’s flagship programs, including free nutritious meals, are incorporated in the 2025 State Budget draft without causing a significant increase in the fiscal deficit. Additionally, Thomas Djiwandono affirmed the incoming president’s commitment to adhering to the deficit limit in the state budget and maintaining disciplined fiscal management.
Source: CNBC Indonesia
