The Indonesian Consulate General in HK Holds An Economic Discussion With The Chief Representative of The Central Bank

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In order to enrich the knowledge of Indonesian economic development, the Indonesian Consulate General in Hong Kong held an economic discussion event themed "Global and East Asian Economic Developments: The Implication of Economic Policy in Indonesia", Tuesday (14/3).

The participants of this event, which was held in the BNI Hong Kong auditorium, were come from the leaders and staffs of the State-Owned Enterprises (BUMN) and Privately Owned Enterprises (BUMS), students, staffs of Indonesian diaspora RI Consulate General in Hong Kong.

In his opening remarks, the Indonesian Consul General in Hong Kong Mr. Tri Tharyat said the event is part of many continuous efforts to update the information and development of Indonesian economic. "We need to keep learning to raise our contribution to the economic development in Indonesia," said the Indonesian consul general.

As the key informant, the Chief Representative of The Central Bank of Indonesia in Tokyo, Japan, Mr. Reza Anglingkusumo conveyed latest economic development as well as various Indonesian government's policies in facing upcoming global and regional economic developments.

 According to Mr. Anglingkusumo, the global economic development will be influenced by several key factors such as slowing economic growth in China, Donald Trump's economic policies, and consequences of the Brexit.

 "Consequences of those factors would create divergence from the policies issued by various countries, so that the capital flows will be changed," explained Mr. Anglingkusumo. He added, in the same connection, the interest rate is expected to rise in the US and developed countries.

However, Mr. Anglingkusumo said that the future of Indonesian economic situation is still in good condition. "Even though, China's economic growth been slowing down, Indonesian economic development still increased from 4,9 percent in 2015 to 5,02 percent in 2016," he said.

According to him, the growth happened because most Indonesian exporters could adjust quickly, considering the export in Indonesia's market was quite diverse compared to the other ASEAN countries. In addition, the high level of investment made the trade balance remains in surplus and the foreign exchange reserves remain high. "Currently, Indonesia's economic fundamental is quite solid and liquid," added him.

In the QnA session, several participants expressed questions, especially about the impact of newly elected US President economic policies. It was explained that Trump's rhetoric of weighing border Tax would be hard to realize because the current business activities have been so interconnected globally.

 "So the chance of economic policy will remain as before, but it will be done more towards the bilateral trade regime," said Mr. Anglingkusumo.​