Indonesia is considered to have entered a period of crisis. This refers to the factors increasingly falling value of the rupiah against the US dollar (US) to a level of Rp14.700 per US dollar.
In fact, President Joko Widodo (Jokowi) has issued the first phase of the economic policy package, but in fact is still not improving economic conditions in the country.
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DPP Chairman of Muhammadiyah Students Association (IMM), Beni Pramula explained, in addition to the drop in the rupiah, there are some indications that Indonesia is experiencing a monetary crisis. This is evident from the large balance of payments deficits due to uncontrolled inflation, foreign debt are increasingly inflated, high interest rates and currency exchange rate is not balanced.
The weakening trend of the rupiah and the stock market response after careful leadership of Jokowi-JK, Beni said when met at Puspiptek, Serpong, Tangerang, Banten, on Saturday night.
Furthermore, Beni said that the causes of the economic crisis due to the failure of the state in formulating economic policies that have a direct impact to the community.
This is a failure of the state in formulating macroeconomic policies reflected the combination of a rigid exchange rate. Thus meaning no leaking fiscal regulation, inflation is the result of the appreciation of the real effective exchange rate, balance of payments deficits and capital flight were unaware of the government’s attention, he said.