We hope market gamers stay calm and never take speculative steps.
Jakarta (ANTARA) – Coordinating Minister for Financial Affairs, Airlangga Hartarto, on Monday stated that the federal government has ready a number of strategic insurance policies to make sure that the Iran-Israel battle doesn’t have a major affect on Indonesia’s economic system.
“We should preserve the extent of market confidence within the means of the nationwide economic system to reply to battle escalation impacts,” he stated in Jakarta.
In response to the minister, the domino impact of the escalating battle within the Center East on Indonesia’s monetary market would solely grow to be seen when the market opens on Tuesday morning (April 16, 2024).
Hartarto stated that the battle may doubtlessly set off a rise within the costs of a number of commodities, together with oil — resulting from disruptions in provide — and gold as a result of it’s thought of a protected haven asset.
He famous that the rising geopolitical tensions within the space across the Suez Canal may disrupt the provision chains of wheat and manufacturing gear elements introduced from Europe in addition to push up cargo prices.
To arrange anticipatory measures, the Coordinating Ministry for Financial Affairs held a gathering with the ambassadors of a number of pleasant nations in Jakarta on Monday.
The matters mentioned on the assembly included the response to the impacts of conflicts on the regional and international ranges, the efficiency of the banking sector and capital market, and the management of inflation.
The assembly additionally mentioned plans for coordinating the fiscal and financial coverage combine with the related authorities for alternate charge management methods and price range deficit administration.
He affirmed that the federal government would proceed to watch international and regional developments and take the very best measures to take care of the steadiness of the monetary system.
He stated that Indonesia’s economic system continues to be fairly robust with financial development maintained at above 5 p.c and inflation below management.
As of February 2024, Indonesia’s commerce steadiness nonetheless recorded a surplus so the international alternate reserves in March have been nonetheless robust.
“We hope market gamers stay calm and never take speculative steps,” he added.
An Israeli assault on the Iranian Consulate in Damascus, Syria, on April 1 triggered its newest hostility with Iran.
Iran launched a retaliatory assault by firing dozens of ballistic missiles and tons of of drones at Israel on Saturday evening (April 13).
Associated information: Ministry ensures gasoline costs to stay unchanged till June 2024
Associated information: No import of oil, gasoline from Iran: Indonesia
Translator: Uyu Septiyati, Raka Adji
Editor: Aditya Eko Sigit Wicaksono
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