Destry Damayanti, a senior member of the Bank Indonesia Board of Governors, stated that the press conference this morning regarding the 2025 State Budget Plan (APBN) had a positive impact on the recent depreciation of the rupiah. 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, helped strengthen the rupiah.
During a meeting with Commission XI of the DPR RI in Jakarta, Destry mentioned that the government’s clarification at the press conference reassured investors about Indonesia’s fiscal management, leading to market confidence and strengthening of the rupiah compared to neighboring countries.
The Indonesian rupiah finally strengthened against the US dollar, closing at Rp16,390/US$ on Monday (24/6/2024), a 0.3% increase from the previous day. The Dollar Index (DXY) also dropped to 105.67 at 3:00 PM WIB.
A press conference held by Airlangga Hartarto, Sri Mulyani, and Tommy Djiwandono earlier in the day emphasized the smooth communication between President Joko Widodo’s administration and the synchronization team of President-elect Prabowo Subianto. Sri Mulyani assured that Prabowo’s flagship programs, such as free nutritious meals, are included in the 2025 State Budget draft without causing a fiscal deficit increase. Thomas Djiwandono confirmed that the upcoming government will adhere to the deficit limit in the state budget and maintain disciplined fiscal management.
(Source: CNBC Indonesia)
