Business · Economy · 3 hrs ago
Kadin chief says Indonesia is far from a crisis
Kadin chief Anindya Novyan Bakrie says Indonesia is not near a crisis, despite concerns about the economy.
He compared current growth of 5.1% with contractions of 13% in 1998 and 2.1% during the 2020 COVID-19 pandemic.
Markets have faced sharp pressure, including foreign funds leaving, a 40% fall in the stock index and the rupiah weakening to 18,170 per US dollar.
Bakrie said other figures point to resilience, including Rp 270 trillion in foreign investment, 16% average growth in listed companies’ net profits, and 13.3% annual credit growth.
He urged people to focus on economic fundamentals, while acknowledging that market strains need to be watched.
He also pointed to global uncertainty and said Indonesia is working toward greater self-reliance in food, water and energy.
The next focus is building that resilience as economic conditions remain uncertain.
Anindya Novyan Bakrie, head of Indonesia’s Chamber of Commerce and Industry, said the country is far from a crisis.
He argued that Indonesia’s economic fundamentals remain strong, citing 5.1% growth compared with contractions during the 1998 crisis and the COVID-19 pandemic.
He acknowledged pressure in financial markets, including foreign capital outflows, a sharp fall in the stock index and a weaker rupiah.
Bakrie pointed to investment, company profits, foreign-exchange reserves and credit growth as signs of resilience.
He said Indonesia should strengthen self-reliance in food, water and energy as global uncertainty grows.
- Who
- Anindya Novyan Bakrie, head of Indonesia’s Chamber of Commerce and Industry.
- What
- He said Indonesia is far from a crisis and that its economic fundamentals are strong.
- When
- October 29, 2026.
- Where
- Kadin Indonesia’s national leadership meeting at Hotel Borobudur in Jakarta.
- Why
- He cited economic growth and other indicators as evidence of resilience, while acknowledging market pressures that should be monitored.
This story does not have two clearly opposing sides.
Indonesia’s economy contracted 13%, according to Bakrie’s comparison.
Indonesia’s economy contracted 2.1% during the COVID-19 pandemic, according to Bakrie.
Bakrie said the IMF described Indonesia as a bright spot.
Bakrie said Indonesia was far from a crisis at a Kadin meeting in Jakarta.
- Economic growth
- 5.1%
- Foreign capital outflows
- Rp 124 trillion
- Stock index decline
- 40%
- Foreign direct investment
- Rp 270 trillion
- Foreign-exchange reserves
- US$146 billion
- Annual credit growth
- 13.3%
What people are saying
Banyak yang menanyakan kepada kami, apakah Indonesia diambang krisis? Menurut kami lebih baik kita melihat ke fundamental saja, kita lihat tahun 98 minus 13%, 2020 waktu COVID minus 2,1%, kemudian sekarang plus 5,1%. Jadi dapat kita sampaikan, melihat data fundamental kita kuat
Kita tidak mengatakan yang sebelah kiri tidak ada, ada. Dan musti diwaspadai. Tapi kembali ke fundamental dan saya rasa itu yang paling tepat supaya kita tidak terpengaruh dari hingar-bingar