Remarks of President of the Republic of Indonesia During the Opening of the 2023 IDX Stock Trading at the Indonesia Stock Exchange Building, Jakarta, January 2, 2023

Assalamu’alaikum warahmatullahi wabarakatuh,
Good morning,
Peace and prosperity be upon us.

Honorable Minister of Finance;
Honorable Governor of Bank Indonesia (BI);
Honorable Chairperson of the Financial Services Authority (OJK) as well as the ranks of Commissioners;
Honorable Chairperson of the Indonesia Deposit Insurance Corporation (LPS);
Honorable President Directorsof Indonesian banks as well as all ranks of leadership;
Ladies and Gentlemen.

At the end of 2022, we had revoked the public activity restrictions (PPKM) policy. It was not for a show but indeed the numbers in the last 10 months of study showed that we can control COVID-19. The Bed Occupation Rate (BOR), our positivity rate, and the mortality rate, all were below the WHO standards. So, yesterday, we decided to revoke the PPKM policy at the end of the year. And, hopefully, this will later trigger our economy to grow better than that in 2022.

Second, if we look at our stock exchange, our capital market, we should also be grateful that the 2022 index shows an increase of 4.1 percent compared to stock exchanges in other countries which have experienced a very sharp decline. In addition, the market cap also grew by 15 percent to Rp9,499 trillion. This is not a small number, a big one amid the 2022 global economic turbulence.

The 2023 is a year of test for the global economy as well as our economy. We are all must remain careful and vigilant. And, earlier I was pleased to receive information from Chairperson of the OJK, from Minister of Finance that currently 55 percent of investors in our stock exchange are young people under 30 years old and 70 percent, 70 percent are under 40 years old. It means the future prospect is very promising. And, with this optimism, optimism with carefulness and vigilance, and the 2022 challenges mainly the uncertain global economy that is difficult to predict, difficult to estimate, we hope our economy can record more than 5 percent growth.  It is confirmed that in 2022 we recorded more than five percent [growth] and we also believe that in 2023, it will still be above five percent

This concludes my remarks. We all must be optimistic that we can solve the existing challenges and be able to go through 2023, the trial year, with a better economy

I thank you.
Wassalamu’alaikum warahmatullahi wabarakatuh. (FI/MMB)