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[FULL] Menkeu Purbaya Blak-blakan Bicara Ekonomi di Closing Remarks Satu tahun Prabowo-Gibran

41:47EnglishTranscribed Jul 15, 2026
0:00

Because we will close today's event together

0:03

by listening to the closing

0:06

remarks from the Minister of Finance of the Republic of

0:10

Indonesia, Mr. Purbaya Yudi Sadewa.

0:14

We give a round of applause to Mr.

0:16

Purbaya for being able to come up on stage

0:19

and deliver his closing remarks. We

0:23

invite Mr. Purbaya.

0:27

[Music]

0:37

[Music]

0:45

Bismillahirrahmanirrahim.

0:48

Asalamualaikum warahmatullahi

0:49

wabarakatuh.

0:50

Peace be upon you.

0:51

Good afternoon and peace be upon

0:55

us all. Hello.

0:57

Om swastiastu, namo buddhaya, greetings of

1:00

virtue.

1:02

Respected CEO of Media Group, Mr.

1:04

Muhammad Mirdal Aqib.

1:07

Oh, that's new. I just saw it.

1:12

I haven't been on Metra in a long time.

1:13

Because that guy never invited me

1:14

again,

1:17

Leo never invited me again.

1:19

Respected

1:21

President Director of Metro TV, Mr. Arif

1:24

Suditomo. There doesn't seem to be any. There aren't any, huh

1:27

? Huh?

1:30

Just walking. And the entire

1:33

Metro TV editorial team who have worked

1:36

extraordinarily hard in preparing this afternoon's program.

1:39

Thank you very much for inviting

1:41

me to this important and

1:43

enjoyable occasion. Usually, when I'm

1:46

invited by Metro TV, it's because there's a

1:48

serious issue. Well, that's what made it like this.

1:52

Well, this time, thankfully, it's not breaking

1:56

news, but breaking optimism.

2:00

[Applause] Do

2:04

you want to read this seriously or casually?

2:09

If I read this seriously, I'll

2:11

finish in half an hour.

2:15

If you relax, I said earlier that there are many

2:16

dangers.

2:19

I have been criticized by many people who said

2:20

not to comment on this minister or

2:22

that minister.

2:25

But I don't comment. Actually,

2:26

I keep my money safe

2:30

and ensure that the economic program

2:33

runs well.

2:36

I am interested in creating an economy that

2:38

grows faster than 5%.

2:42

Maybe in the 4th trimester it could grow to

2:47

more than 5.5. If I do more, the president said,

2:50

I will be given a gift.

2:53

What's the prize? I'll tell you later.

2:56

If you get 5.5 5.6.

2:59

Next. This is 1 year of Prabowo Gebran

3:02

Optimism for

3:05

faster economic growth. It should have been

3:07

written as 8%. I don't dare to

3:10

miss either. How?

3:13

How about 5 6 7 8? Slowly.

3:16

So next.

3:20

Oh,

3:23

so far our economy is pretty good.

3:27

This second quarter figure reached

3:31

5.12%.

3:34

That's a magic number.

3:37

Because 5 + 2 + 1 = 8 he said.

3:41

So always focus on 8%. But look, this is

3:44

still a good record in this region at the

3:48

G20. You just saw yesterday that

3:52

even though things were good in the second quarter,

3:55

when we mismanaged the

3:58

economy, it slowed down significantly.

4:01

People felt the burden was

4:03

long enough to take to the streets.

4:07

And if it's not fixed

4:08

quickly,

4:09

the demonstrations will continue every day, every

4:13

week until there's chaos

4:16

next year, according to our calculations. We've done the

4:19

math,

4:21

Mr. Leo knows I'm a bit of a shaman,

4:23

right?

4:24

Let's see, "Oh, Sir, if you don't

4:27

quickly change him to Mr. Perboo,

4:30

I'll tell you." "Yes, in February

4:32

next year, you'll be having a hard time, I'm

4:35

joking." Seriously. Just

4:37

kidding. I think he didn't

4:40

notice. It turns out he's smart

4:42

too. He monitored it and didn't know

4:46

where he saw it from. He caught on and

4:48

he quickly made changes.

4:51

That's why I became Minister of Finance, right,

4:54

sir. It's

4:58

safe with me, sir. I do

5:02

n't think so. But we see that the vulnerability

5:04

at that time was that the policy did

5:08

not really

5:10

create space for the economy to grow

5:12

faster. So these are all some of the

5:15

second quarter growth figures. I'm

5:16

sure the third trimester will be down a bit

5:19

but that's okay. The fourth trimester

5:21

will grow faster.

5:25

So far, inflation has been maintained at

5:26

2.5%. The state budget deficit was also maintained at 1.56%

5:31

of GDP. This is still one of the

5:34

lowest of the G20.

5:37

So journalists always ask me,

5:41

you're spending money, they say. It means

5:44

everything is shopping shopping

5:46

shopping.

5:48

That's expansive.

5:51

How much of a deficit to GDP do

5:56

they know?

5:58

I haven't changed the budget yet.

6:01

All I did was transfer 200

6:03

trillion rupiah from BI to banking. That's

6:06

it.

6:08

But I still look good, right? I

6:10

moved trillions, it seems there is a

6:12

big policy. Even though there isn't any.

6:15

But the impact on the economy is different.

6:18

Because previously in the system which was

6:20

dry, there started to be enough money. You

6:25

just go further.

6:28

That's what creates optimism in the

6:31

economy. So it's not just because I said it

6:33

. I said yes, I do sell

6:36

pap medicine. I was showered with IDR 00

6:39

trillion in cash.

6:41

The banks felt that their

6:43

liquidity suddenly increased. I also told the

6:46

central bank, "Don't absorb it,

6:48

he's not absorbing it. Luckily, he's still

6:50

complying. If not, we're in trouble.

6:54

But I still have more.

6:56

I'll show you later. Our trade balance

6:58

grew 45.8%

7:02

from January to September.

7:04

Year on year. Growth of more than 50%. This is what was

7:09

previously described as high global uncertainty

7:11

. Where's the uncertainty?

7:14

If this is the case, hopefully, we'll

7:17

pray for continued uncertainty so that exports will

7:19

grow faster and faster.

7:22

So, Paleo, you're right, if you're discussing the

7:24

right thing, in Metro, it's not

7:27

uncertainty. In economics, in the global

7:30

economy, uncertainty always exists every

7:33

year. I remember when I

7:35

was an economist, I wrote about the

7:38

economic prospects of growing under uncertainty.

7:43

Still growing amidst uncertainty, but over time,

7:48

there's uncertainty every year. So,

7:50

you always have uncertainty. We

7:53

don't need to be afraid.

7:55

We have enough experience to

7:57

manage uncertainty.

8:00

So, Mr. Leo, from

8:03

2004 until now, we've never

8:05

had a crisis. It's no coincidence that

8:09

I've always provided input to

8:11

presidents throughout that time.

8:14

But I wasn't paid, the

8:16

current ones are paying.

8:18

So, we're behind, but He didn't

8:20

catch it. If he did,

8:21

he should have been able to explain directly to the public

8:24

how to fix the economy. So

8:26

every time I had discussions with Mr. Leo on

8:28

TV, I actually gave him these

8:32

leaked codes.

8:35

But he didn't get there. So,

8:39

let him.

8:41

So, if he did get there, he'd become a

8:42

minister. The

8:45

unemployment rate dropped quite a bit. The

8:48

poverty rate also dropped. Well, the important thing is

8:50

that the JCI had risen to a

8:53

high level. Has it dropped

8:54

today? Yesterday, it rebounded and

8:57

reached 8,257.86.

9:00

So, it was the highest level in history

9:02

at that time. This

9:06

was linked to me, saying that when I was

9:08

elected, I said something wrong. The first day

9:11

the JCI dropped, that the minister was incompetent,

9:13

they said. If he spoke carelessly,

9:15

his brain would be blank. Something like that, right? On the

9:18

second and third days in the House of Representatives, we returned to

9:22

the discussion. We explained

9:23

how to reverse the

9:26

economic direction, and on Friday, I immediately

9:28

injected IDR 1 trillion into the

9:31

banking system.

9:34

Market people are pretty smart, apparently. Oh,

9:36

if money flows into the system,

9:39

the economy should buy well.

9:42

That's why stocks have risen significantly.

9:46

Even though there's a correction now. It will rise

9:47

intermittently, yes, but what needs to be

9:49

understood is that the

9:52

economic improvements we will

9:53

create in the future are not just temporary.

9:57

We will seriously improve the economic foundations

10:00

, and

10:01

I will truly utilize

10:04

all the knowledge I

10:05

have learned over the past few decades

10:06

, including discussions with Mr. Leo.

10:10

You're the only one who lives in Metro, right?

10:11

Where are the others? You're really comfortable.

10:15

I don't know any of the others

10:16

, we just met,

10:21

so

10:23

the improvements will be fundamental and

10:25

continuous.

10:26

I will maintain our expansion business

10:30

for the next 10 years.

10:33

This means that if we look at it, I said that

10:36

if we translate KG from the start of

10:40

the expansion to the end of the expansion, it could be

10:43

4 to 7 times. If yesterday it was 10,000, then

10:48

if it's above 30,000, it's normal, a

10:52

few years from now. So,

10:55

if you want that, don't miss the train.

10:58

Next.

11:04

When Mr. Prabowo said he would

11:06

create 8% economic growth, everyone

11:10

laughed at

11:11

that as a

11:14

vague dream.

11:16

As an economist, I'm not on the

11:18

Perbao team, but outside of that time.

11:19

Good, beat it. Why?

11:24

For a country to become a country To

11:27

advance, it needs to create

11:30

double-digit growth for more than 10 years. I

11:34

've seen Japan, Korea, Taiwan, and

11:37

now China are getting closer,

11:39

right? They used to have a fast growth rate

11:41

. 5% for us is indeed comfortable, it

11:43

seems like the highest compared to developed countries

11:47

. The average for developed countries is 20.

11:49

But here, we're at 5% above

11:54

that. So, if we continue at five, we

11:56

won't be able to catch up. So, there really

12:00

needs to be an aggressive policy.

12:03

The important thing is

12:06

to ensure it can happen.

12:11

South Korea, Singapore, is a

12:14

small country. South Korea, for example. State-late

12:17

industrialization. State-late

12:18

industrialization policies, government-

12:20

cooperative partnerships,

12:22

aggressive exports and global market expansion,

12:26

as well as the K-pop creative industry.

12:28

K-pop is only recent.

12:32

But in Korea, there's one thing that

12:35

many people forget.

12:37

They

12:40

truly support the MSME sector.

12:44

They created an MSME bank.

12:47

There's an educational institution there for

12:49

people running MSME businesses.

12:51

They market MSMEs, their own institution. Then

12:53

there's a guarantee institution if MSMEs want to

12:55

borrow, so they can borrow without

12:57

collateral. There's an institutional section for

12:58

promotion. MSMEs.

13:01

There's a monetary policy that requires

13:04

MSMEs

13:05

to lend to banks. Sorry,

13:07

how much

13:10

more than their total third party funds (DPK) do banks lend to MSMEs? The total

13:12

loan is over 40%. So, Korean exports

13:17

from MSMEs once reached 45% of

13:19

their total exports.

13:21

So, it's not just large companies

13:26

that are supported, but also small companies.

13:29

We will develop this going forward. Earlier, Mr.

13:31

Muhaimin suggested, or

13:33

Mr. Muhaimin's friends discussed this,

13:36

and perhaps we will work on

13:37

strengthening the MSME sector in the future.

13:40

We've always said that MSMEs are

13:43

heroes.

13:45

What's the program?

13:47

It's unclear. Is the money given to them

13:49

? It's also unclear whether there's KUR (

13:52

People's Business Credit) given to

13:55

long-term borrowers. So

13:58

the impact isn't very clear yet. Going forward,

14:00

we will push for more

14:03

pro-MSME support. Next, the

14:08

United States is the same. This just

14:10

shows that

14:14

to become a developed country, America is the

14:16

same. There was a period of faster growth

14:19

.

14:20

But if you look at it, in

14:23

1932,

14:26

during the Great Depression, the

14:29

American economy experienced a very severe contraction.

14:31

In

14:34

fact, the interest is 0%.

14:37

So I'll repeat here, science is

14:40

actually my science, but

14:42

when I say what I say, people don't

14:43

believe it. I'll take it. Milton

14:46

Freedman said that even though the

14:49

interest rate is zero, he still contracts

14:52

the economy like that because the

14:55

money growth is negative 5%, I see it's around

14:57

5%. So there's not enough encouragement for the

15:01

economy. From there comes the

15:04

basic teachings of monetary. What I said is

15:07

fundamental, right?

15:09

If people understand, yes.

15:12

If Mr. Leo doesn't understand, let

15:14

him not understand.

15:16

Sis, who else is my friend here?

15:18

No one else. Just you, right? No

15:20

one else is my friend, just him.

15:23

So,

15:26

to determine

15:28

loose or tight monetary policy, don't look at

15:31

interest rates. But look at the growth rate of

15:38

base money.

15:40

That's the basic foundation of

15:43

monetary policy. Next.

15:46

They keep holding on to that. Next,

15:54

why is

15:56

this already the next,

16:05

what is China trying to say?

16:12

Now, what is the rate of economic growth?

16:15

Even though it's good, it's still below the

16:18

average growth rate

16:21

before the crisis. So, Pak Harto's era was

16:24

better than now.

16:27

Does that mean we're going back to the new RD? Do

16:31

you agree? The costs are already high,

16:34

we're not doing well anymore. But if we

16:36

look at

16:40

our economic activity on the right, it's

16:41

mostly supported by the

16:45

low-value-added sector,

16:49

in this case, the service sector, which is experiencing

16:51

wild growth of 54%.

16:54

Meanwhile, the

16:57

manufacturing sector's share

16:59

continues to decline, which is called industrialization.

17:02

Agriculture also declined, but remains

17:06

stable at 13.4%. True, the post-

17:09

crisis flight is actually an

17:11

economic transformation from an agricultural country to a

17:14

manufacturing economy.

17:16

Agriculture should have declined to a

17:18

low level, while manufacturing

17:20

continued to rise. This didn't happen in our country,

17:23

so our economic

17:26

growth slowed after the crisis. So, going forward, we

17:28

must continue our economic transformation

17:32

. This doesn't mean we're turning it off.

17:34

Agrarianism has fewer people but is

17:36

more productive, like

17:38

programs like the EE

17:43

food estate and all that, which is fine.

17:46

But that shouldn't be forgotten.

17:50

Next

17:52

, what are the economic strategies

17:55

? Let's look at Sumitronomics.

17:59

I don't really understand

18:00

Sumitronomics. At that time, I studied it

18:03

a bit to get closer to the president.

18:07

But after reading it, I think it's actually good.

18:09

Sotonomics. He has three, eh,

18:13

fiscal, eh, high economic growth

18:16

, equitable distribution of development benefits,

18:20

dynamic national stability. So,

18:23

equitable distribution of development benefits and

18:25

dynamic national stability

18:28

grow if we provide

18:29

key programs directly to

18:32

the people.

18:34

So, what Mr. Prabowo is doing

18:35

now: 1. Du, it's already running,

18:39

right? What are the MBG people doing?

18:42

So many schools, what's the point

18:43

? There are so many like that. Leo must have

18:45

criticized that on TV, eh,

18:47

the program is wrong. But these two are for

18:50

this. Without this,

18:52

high economic growth can't be stable.

18:56

Yesterday, there were big demonstrations. But

18:59

without this, the demonstrations would be even bigger

19:01

.

19:03

But you noticed when the third step

19:05

was ignored, economic growth remained

19:08

unstable, right? So, steps ee 1 2 3 are already

19:13

in place. Now, my obligation is

19:14

to revive high economic growth

19:17

so that everything is complete. It's

19:20

already clear that when we try to

19:22

push it,

19:25

people are happy, now there's

19:28

optimism.

19:30

Hopefully, this optimism will

19:31

truly be realized, but we must

19:37

accompany it with real action.

19:42

So, how do we create

19:45

high growth?

19:47

The engine of growth is all Everything has to work in

19:50

harmony, okay? So

19:54

next, let me show you the picture. Next.

19:56

Next. I'll show you this. This picture is both

19:59

easy and difficult.

20:02

Leo doesn't understand. Leo, let me

20:04

teach you now,

20:07

it's not live, right? It's

20:12

safe, right?

20:14

Oh, mom. This is a picture of the

20:18

red M0 money growth. The

20:21

blue one is credit growth.

20:25

You see, from the era of Mr. SBY, the era of Mr.

20:30

Jokowi.

20:32

During the red PSB era, the

20:34

average growth was fast, above

20:36

that, around 17%. As a result, the

20:40

blue one also grew fast on average,

20:45

22%.

20:47

Credit grew on average 22%

20:49

throughout Mr. SBY's era.

20:53

What does that mean? This isn't clear. What does that mean

20:56

? It's

21:00

not clear either. It's

21:04

not clear. Ah, just look at it. The

21:07

big one. It's annoying to buy a big one,

21:09

bro. Finance has money, right? Later, when

21:12

I go out, I'll buy a big one, it'll be a

21:13

big short. So, I

21:16

forget that

21:21

during the PSBY era, the

21:23

private sector was lively.

21:26

No, it was just relaxed. That's why

21:28

you see the decline, the GDP is down.

21:30

Then it dropped to 23% from 30.

21:35

If I were in front of Mr. Jokowi, I would jokingly

21:36

say, "Sir,

21:39

I showed you the picture to

21:41

Mr. Jokowi at that time because it was from the

21:44

bottom, right, sir. Do

21:47

you know, sir, why, sir? Why did

21:49

Mr. SBY just sleep when the meeting wasn't

21:53

pleasant? In K SBY's time, Mr

21:55

SBY, I wouldn't have been allowed to say something like that. But

21:57

you build infrastructure everywhere, the

21:59

growth is five. Where did it go wrong?

22:02

You see, the red ones were

22:05

low during Mr. Jokowi's time there, and were even

22:08

negative before the crisis.

22:20

On average zero. So the economy is checked,

22:23

luckily we didn't die.

22:26

After that, we returned in March 2021, it

22:29

was returned to the top, the government put

22:31

300 trillion in May 2021,

22:35

the actor there, Luki Alfirman, forgot,

22:36

apparently he didn't understand, he

22:38

was ordered to just carry it out, maybe you

22:41

studied Mr. Luki, why is that? After that,

22:44

you saw the blue one growing from zero,

22:48

from negative to positive, that's what

22:51

saved us, but the

22:53

main picture is that during Mr. Jokowi's era, the

22:57

real sector almost didn't grow, it was

23:00

strangled, while the sector's growth was progressing.

23:05

So let's see if there's any more

23:09

private growth here. So the

23:12

private sector is not pushing there

23:14

. So for the last 20 years

23:21

our economy has been limping.

23:26

Just found out, huh, Mr. Leo? Just found out

23:28

apparently. So next time invite me.

23:32

W, now you're playing, the minister

23:34

can't do it.

23:39

Yesterday before you

23:40

invited the minister.

23:44

Now

23:46

what if we grow both of them?

23:50

I have 6 private plus government,

23:52

there must be one, right? It

23:54

must be more. Easy.

23:56

I was called arrogant. Oh, you're arrogant to

23:58

say that. Is it really that easy?

24:02

Economic systems are usually slow to change.

24:07

Two generations do not necessarily change

24:08

their behavior. If I give it this way it

24:11

grows, if I give it that way it grows slowly.

24:14

What's the proof? Yesterday, during Mr.

24:21

Kelihat's time, it was a little visible, right? This one looks

24:22

a bit obvious.

24:24

Mr.

24:26

Prabowo, he is supervising here, inheriting

24:29

here. I thought that when I realized that

24:31

going up there was positive but it was

24:35

also pushed down. After that,

24:37

April, May, June, July, August 2025 will

24:42

be directed to negative again. So the real

24:45

sector is being checked again.

24:49

People immediately felt the pressure on

24:52

the economy.

24:53

Yes, when they are annoyed they take to the

24:55

streets, right? So it's not a protest because the

24:58

politics are chaotic, but because

25:01

their economy is struggling.

25:04

If we don't fix it quickly,

25:06

the demonstrations won't stop and we

25:08

will have a hard time moving forward. I also

25:10

said that the impact of the trillion is already

25:13

visible, the M0 has now grown by

25:15

13.2%.

25:17

What does it mean? My cash injection has

25:23

significantly increased liquidity in our financial system. I

25:26

will monitor it from month to month to see what it is like

25:28

. If it's not enough, I'll add

25:30

more. I still have a lot of money. Isn't

25:34

the Minister of Finance arrogant? We

25:36

used to be poor, now we have. Why?

25:40

This has started to move towards the economy, yes.

25:42

We see that Mandiri has absorbed 74 trillion of the 55 trillion and

25:44

distributed it.

25:48

BRI is already 62, BN 50, BTN 19, they say it

25:52

's full now because I said

25:54

your 19 is really bad. Yes, I can

25:56

now 100 want to meet I want to be hungry

25:59

but wait a minute. I said 25 if I ca

26:02

n't absorb it I'll go somewhere

26:03

else.

26:07

Maybe it's his money too.

26:09

BSI baru 50. ee 55%.

26:15

But this has already entered the system in the

26:17

form of additional credit. Mandiri, for example,

26:21

has already told me that its credit growth has

26:23

increased from 8% to 11%, which is quite good.

26:25

We will continue to push it so that

26:27

it grows even faster. Not by forcing them,

26:29

but by providing a system of how to manage the money in the

26:31

banking system so that the bank is forced to

26:34

distribute credit. Next next

26:37

.

26:39

So,

26:41

what is this picture?

26:43

This is a picture of government money at the

26:46

central bank. So all this time, I said I didn't

26:48

have any money, but the money just piled up.

26:51

From month to month, it was 800

26:53

trillion in 2003, 800 trillion there. In

26:55

2004-2005, there was 650 trillion in

27:01

idle cash there. what I do

27:03

is

27:06

channel it into the system to be proud

27:08

so from there it's down to there

27:10

now. But my money is not lost.

27:13

The money is still mine but it's in a

27:16

different place. Now the place is banked.

27:20

I once said, "Sir, go to Jokowi

27:23

, sir. Channel it to the President.

27:27

Channel some of your money into the

27:29

economic system." Well, what's the difference? It's

27:31

the same as not shopping.

27:33

Sir, if your money is in BI, you have committed

27:35

two sins.

27:37

First,

27:39

you didn't build the economy.

27:41

Secondly, the private sector also cannot

27:44

use the money.

27:46

If you put your money in a bank, a

27:48

commercial bank like Himbara, you only have

27:52

one sin left. Yes, if you ca

27:55

n't figure out the budget quickly, then

27:57

you won't build it. But the

28:00

second sin is gone. Now the private

28:02

sector can use its money to

28:05

boost the economy.

28:08

Okay, next. Next,

28:13

I just want to show you how

28:16

I distribute central government money.

28:22

Next year's budget will be efficient,

28:26

where I will reduce the budget allocated to the regions.

28:28

They came to me angry. Wow,

28:30

why cut it? What happen? Why is that?

28:31

What happen? They don't lack

28:34

money, in fact they have excess. Just look at the

28:41

local government that is under MA

28:44

1.

28:46

Then shift it a little to the right.

28:49

It's now August and has R54

28:52

trillion. Unemployed in their banking in

28:55

regional banks.

28:57

Then if you see it, okay, this will

28:59

be finished later, he said.

29:01

Look at December 2024 they have 92

29:05

trillion. That's the gas that's at least

29:08

idle. That means it's not used.

29:11

2023 December see tu 103.9 trillion.

29:17

So it should be fine even if I cut it

29:20

. But they protested, "Oh,

29:22

I don't have enough money. I don't know

29:24

where the money is, in what form, or

29:27

whose savings it is. But I'll check later.

29:33

So I said to them, "Yes,

29:35

you can increase it or ask for more money,

29:38

I can give it to you. If the

29:40

budget absorption is good and there is no more

29:43

misappropriation. "Mid-year, uh,

29:44

next year I'll add more money."

29:46

Something like that. So

29:49

we're not turning a blind eye to the state

29:51

of the economic system. What I

29:53

want isn't to cut their money, but

29:56

to ensure that the money is spent on

29:58

time so that the regions grow at the same rate as the

30:02

central government, and the central government and the regions,

30:04

as they should. The economy should be better,

30:07

that's what we're targeting. So I'm not a

30:10

bad person, Mr. Leo, be nice.

30:13

Next time,

30:15

this is the same, it's built to win. The only thing that's

30:18

a bit strange is that if I want to

30:19

criticize, wow, the

30:23

central government has a lot of money. For example, in

30:26

December 2024,

30:29

there were 204 trillion in time deposits

30:32

. In

30:34

2023,

30:40

there were 285.6

30:42

trillion in time deposits. What kind of money is that?

30:46

We'll investigate later. Don't

30:48

let my money sit idle

30:50

in the bank.

30:52

But if I ask my subordinates, they

30:54

won't know what the money is. Maybe they're

30:56

lying.

30:58

We know what the money is. We won't

31:00

pursue it.

31:02

He won't admit it. But there's

31:05

quite a lot of cash in the hands of the central

31:07

and regional governments. It's just that the

31:09

spending method isn't optimal. We'll

31:13

fix that. Before we

31:16

implement

31:19

other policies. Another one was

31:21

fiscal and monetary, what else?

31:25

I want to improve the

31:28

investment climate.

31:30

This has been the case for

31:31

decades, there's been this, there's that, there's

31:33

been a

31:34

lot of regulations, a lot of permits, and it's never been

31:37

resolved.

31:39

Especially, someone said to me,

31:42

"You're just a paymaster, you can't do

31:45

anything." Well, Roki Gurung said that

31:47

.

31:48

Let it be. That's a good criticism. But

31:51

I said, "I'll create a team to

31:54

bottleneck with the economic minister

31:57

and other ministers. Later,

31:59

we will receive complaints from

32:01

business actors and we will

32:04

hold a case conference every week.

32:07

I will be there. In

32:09

the future, the

32:12

wrong policies in the field will be

32:13

easy to implement on paper, but in the field, it will be different.

32:18

We will address policies on the ground that hinder economic growth

32:20

.

32:23

So there will be

32:27

continuous structural improvements.

32:32

People ask, can you really do it? Oh,

32:35

I once led a team in battle naking

32:38

at the Coordinating Ministers, three Coordinating Ministers, yes, at the Coordinating Minister for the

32:42

Economy, but above him was the Coordinating Minister for

32:44

Maritime Affairs and the Coordinating Minister for Political, Legal and Security Affairs.

32:47

I have tried

32:50

193 completed cases linked to

32:53

investments amounting to Rp890 trillion.

32:58

So I'm like a judge, my

33:01

level is already at the level of Abu Nawas.

33:03

Don't understand why Abu Nawas level?

33:06

Why Abu Nawas level? Once upon a time, there was a

33:09

story about Abu Nawas being asked to check

33:11

which people were lying and which were

33:13

not. If you give a donkey, give it

33:16

oil, then the person tells you to hold it, that's the

33:21

sinner. What's wrong is that he didn't dare

33:23

to touch it.

33:25

He held the innocent ones. Brave.

33:27

After that, Abu Abu Nawasah could

33:29

determine which one was wrong because he

33:30

didn't dare to touch it. his hands were dry.

33:33

If I am different. In each trial,

33:36

there are conflicting left and right case titles

33:39

. After shaking hands,

33:42

I could feel what was

33:44

wrong. His hands were cold.

33:48

His hands were so cold. Ouch. Oh,

33:50

his hands are cold. Okay. My subordinates are

33:53

police, right? Do you check this guy's

33:55

background? His hands were cold.

33:57

It was not known that he was wrong. So it's

34:00

not bad. I have a judge at Abu

34:02

Nawas level.

34:06

So the

34:09

strategy is all there. These

34:13

gentlemen, ladies, you all know that

34:15

he is not here from year to year. But

34:17

we will ensure that the implementation is

34:19

truly

34:21

underway based on protests or input

34:24

from the business world

34:27

directly. Next.

34:34

this is boring, yeah. So, our state budget will be maintained,

34:38

we are talking about a small amount of the state budget to

34:40

support the development agenda to achieve

34:41

prosperity and reduce the impact of shop

34:44

absorber fluctuations. That's why there's always a

34:49

subsidy there.

34:51

People say that subsidies are bad for the

34:53

economy. But we must remember that not

34:56

everyone can enjoy the

35:01

economic cake of our growth,

35:04

our economic growth. So we

35:05

still have to support those who are

35:08

less fortunate.

35:12

Next.

35:15

This is related to the APBN relationship.

35:18

What's clear is this,

35:20

the figures have been announced

35:21

many times, but what's clear is this,

35:25

the media always asks if you will

35:26

break through 3%? I will never

35:29

break the 3% GDP deficit mark

35:34

now.

35:37

Later, when it's already del, it'll be okay

35:38

. If it grows to 78, that's fine. It's just like this

35:41

. The

35:44

3% standard was set

35:48

arbitrarily. According to me.

35:50

Just look at European countries, there are some where 3%

35:53

doesn't exist. More than all GDP ratiya

35:55

how much? 80 to 100% American average is

35:59

almost 100%, Japan 200% all are big.

36:02

Singapore is especially huge.

36:06

We are quite prudent at

36:09

3% and below 60 at 40% now

36:13

we will continue to maintain it because apparently

36:17

the western media

36:19

observers are targeting me, does the

36:22

Minister of Economy understand or not,

36:24

try to trap me at 3%, as soon as I pass 3%,

36:27

they will beat me up, the

36:29

new Minister of Finance is stupid, doesn't understand

36:31

fiscal sustainability, that's

36:34

why I'm guarding it first, I'm going along with

36:35

them first. But later, when it

36:36

grows fast, maybe we will. But

36:39

if it grows fast, I don't

36:40

need a big deficit. Why?

36:43

My tax revenue is good. Well, now

36:46

I am in the process of improving the

36:49

tax and customs system.

36:54

But there is sck and carot. I told

36:55

my tax staff, I'll forget the back ones

36:58

. We focus on the

36:59

future. If you can raise the

37:04

tax-to-GDP ratio to a good enough level

37:06

, I will ask the president for a bonus

37:10

equal to the excise tax. But if you're down there,

37:13

you have to be prepared. Something like that.

37:16

It has to be fair, right? But I believe that there are

37:19

actually many good people too,

37:21

but the good people are usually on the fringes.

37:23

I'm going to put the good ones in the middle

37:24

now so they can play a bigger role in

37:26

our tax collection. So it's kept

37:29

here like this, but in the future it will be even

37:32

better. Moreover, it seems that the

37:36

tax ratio is different when private-driven growth is

37:39

different from government-driven growth.

37:41

At that time, private was 125% higher

37:44

than government. Maybe

37:46

when the government wakes up, they

37:48

keep asking for discounts. If it's private,

37:50

no. So from there, I can

37:52

earn more than 110 trillion

37:55

next year almost automatically without

37:57

doing anything by

37:59

just revitalizing the private sector. Next.

38:06

So our APBN is

38:10

optimized for equitable distribution of justice.

38:13

There are social protection programs, there are

38:15

more equitable growth programs, there is

38:16

job creation and

38:18

poverty reduction even in remote areas. So, here it is.

38:20

I won't go on for too long.

38:21

Perhaps

38:23

with the strategy I mentioned earlier,

38:25

with a slightly expansionary state budget

38:28

next year but still

38:30

applying

38:32

prudent principles,

38:34

we will grow faster

38:38

than this year. Next year

38:40

I will think about how much I

38:43

dare to get to 60% or even

38:46

less.

38:48

I asked if I could ask the

38:50

president for a gift.

38:52

But if I don't achieve it, I'll probably be fired

38:53

.

38:55

Fair fair game. But I'm sure

38:58

if my sector is realistically guarded,

39:01

my smuggling will be closed.

39:04

I caught those who liked to play with smuggling. There will

39:07

be a

39:08

large-scale arrest soon. I don't care

39:09

who's behind it. Behind me, the

39:11

president is the tallest, right? Yes,

39:13

most of the time it will be fine here.

39:16

My cigarette will clean up the textiles. So cigarettes,

39:19

then textiles, then steel. After

39:22

that, I chased them one by one

39:23

.

39:27

This will increase the

39:32

tax ratio and the growth of

39:36

domestic industry.

39:37

I have been to this

39:40

exhibition or fashion show of Islamic clothing.

39:44

Wow, that's great. Oh, amazed. This is also good

39:46

. Ah, we can master this. Or

39:49

someone next to me is chattering, Mas. Mas,

39:52

why? Don't be dazzled by the fashion show

39:54

. Oh, why? More than 90% of

39:57

Muslim fashion, our Islamic fashion business.

39:59

Our Muslims are controlled by goods, controlled by

40:02

goods from China. Oh, so

40:04

what is that? Yes, it's just for show, he said.

40:07

So there are a lot of front cell goods here

40:10

that customs say

40:13

doesn't work properly. I called

40:15

my old tax man. You're not right? That

40:18

's not it, sir. Behind it is a

40:20

backing. Later, we will be called and told that we can't

40:21

walk, we can't do anything. Okay,

40:24

now just brush it.

40:26

My Director of Customs and Excise is a three star.

40:30

Except for the four star who ordered.

40:32

Three stars still.

40:34

If it's a four-star, we'll report it to the president.

40:36

Okay, that's it. So,

40:39

with a strategy like that, I'm sure

40:41

the economy will slowly grow

40:43

faster. But it won't be 8% tomorrow, okay?

40:45

Next year it could be closer to 6%

40:47

or more. Next year it will be even faster

40:48

. Next year it will be even faster.

40:50

So you can see that the year 5 and 8

40:54

can be seen approximately.

40:56

But I got a gift from the

40:59

previous president. If you get another prize,

41:01

maybe the enemy will get it again. What do

41:05

you want? What do you want, sir? Wow, don't

41:09

bring it into politics. It will be difficult for me later. We

41:11

still want to talk about the economy. So that's

41:13

it. So it's also difficult for me because

41:16

someone wrote that. Many people have

41:18

attacked me from political parties.

41:21

Even though I didn't think about it at all

41:22

. Okay, that's it, everyone.

41:25

Eh, the optimism we create is not

41:28

without ground or reason.

41:31

We already have enough experience

41:33

and we have the right strategy to

41:35

create an even faster growth rate

41:37

. So, you get ready to get rich

41:39

together with me. Thank You.

41:41

Peace be upon you and Allah be upon you

41:42

.

41:43

Peace be upon you. Yeah.

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