Perry Warjiyo: Synergy and policy innovation - key to resilience and saving the economy from crisis risk

Speech by Mr Perry Warjiyo, Governor of Bank Indonesia, at Bank Indonesia's Annual Meeting 2022, Jakarta, 30 November 2022.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
11 January 2023

Assalamu'alaikum Warahmatullahi Wabarakaatuh,
Greetings to everyone, Shalom,
Om Swastyastu, Namo Buddhaya,
Greetings of Virtue.

First of all, let us express our gratitude to the presence of Allah subhanahu wa ta'ala, God Almighty, for His mercy and blessing we were able to gather at the 2022 Bank Indonesia Annual Meeting today. With all humility, we would like to express our gratitude to His Excellency, the President of the Republic of Indonesia, who is willing to attend along with all the invitees.

We congratulate banks, corporations, and individuals who received the 2022 Bank Indonesia Awards totaling 58 (fifty eight) awards in 4 (four) areas and 18 (eighteen) categories in the field of managing monetary and financial system stability, payment systems and the management of Rupiah, the development of MSMEs and the Sharia financial economy, as well as supporting Bank Indonesia policies. This award is held annually, in conjunction with the Bank Indonesia Annual Meeting, as an appreciation and at the same time national recognition to partners who have supported the implementation of Bank Indonesia's tasks.

At this auspicious opportunity, allow us to present an evaluation of economic performance in 2022 as well as economic prospects and the direction of Bank Indonesia's policies in 2023 which we summarize under the theme "Synergy and Innovation Strengthening Resilience and Economic Revival Towards Advanced Indonesia". Our presentation is presented in six parts, namely: (i) The importance of synergy and innovation as the key to resilience and saving the economy from crisis risk; (ii) The performance and prospects of the global economy that is full of risks and uncertainties; (iii) Performance and prospects of the national economy showing resilience and recovery; (iv) Bank Indonesia's 2022 policy mix to maintain stability and promote economic growth; (v) Synergy and innovation in the national economic policy mix to strengthen resilience and resurgence; and (vi) The direction of Bank Indonesia's policy mix in 2023. This explanation also serves as the fulfillment of Bank Indonesia's accountability and transparency as mandated in the Bank Indonesia Law.