Sumber: Infobank
A crisis is approaching. Almost every economic indicator is getting worse. It started with foreign investors pulling out of the stock market. Stock prices have dropped sharply. The value of the rupiah has fallen significantly. Even more surprisingly, government revenue has decreased. In fact, it almost feels like the tax income was pre arranged. If we talking about purchasing power. Don’t even ask, it’s collapsed. Interest rates are still unclear, while bank lending has reached its limit. Liquidity in the market is drying up. The competition among banks, as well as between banks and Government Bonds (SBN) and Bank Indonesia’s Rupiah Securities (SRBI), continues.
Ironically, even as the situation becomes more critical, the government, just five months in seems indifferent. It looks like they either don’t understand or don’t want to address the economic troubles signalling an impending disaster. The economic ministers are busy inspecting cooking oil fraud or staying silent. Whether they are unsure of what to do, or are afraid of the president, is unclear. The ministers’ quality has yet to be seen. What’s worse, corruption is openly visible in the Ministry of Forestry with the appointment of unqualified staff from the PSI group.
