Depresiasi nilai tukar Rupiah terhadap mata uang dolar Amerika Serikat yang terjadi sejak tahun 2024, masih berlanjut hingga tahun 2025 ini. Setelah bertahan di level Rp15.000-an per dolar Amerika, mata uang Garuda akhirnya kembali menembus angka Rp16.000 pada pertengahan bulan Desember 2024, yaitu Rp16.019.
Dan level nilai tukar Rp.16.000-an per dolar Amerika tersebut pun masih bertahan hingga bulan pertama tahun 2025, tepat pada tanggal 21 Januari 2025. Bahkan, Rupiah sempat nyaris menyentuh Rp16.400 per dolar Amerika pada 16 Januari 2025.
Sementara itu, pasca pelantikan, Presiden Amerika Serikat Donald Trump memberikan sinyal kuat untuk mengevaluasi ulang tarif perdagangan Amerika, terutama pada barang impor dari Kanada dan Meksiko. Trump juga sudah menandatangani perintah terkait kebijakan perdagangan America First, yang menginstruksikan lembaga federal untuk menyelidiki praktik perdagangan yang tidak adil oleh negara lain.
Dan level nilai tukar Rp.16.000-an per dolar Amerika tersebut pun masih bertahan hingga bulan pertama tahun 2025, tepat pada tanggal 21 Januari 2025. Bahkan, Rupiah sempat nyaris menyentuh Rp16.400 per dolar Amerika pada 16 Januari 2025.
Sementara itu, pasca pelantikan, Presiden Amerika Serikat Donald Trump memberikan sinyal kuat untuk mengevaluasi ulang tarif perdagangan Amerika, terutama pada barang impor dari Kanada dan Meksiko. Trump juga sudah menandatangani perintah terkait kebijakan perdagangan America First, yang menginstruksikan lembaga federal untuk menyelidiki praktik perdagangan yang tidak adil oleh negara lain.
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TVTranscript
00:00Yes, hello viewers, how are you today, straight from the IDX channel studio in Jakarta, I am
00:25Prasetya Weebo back in the market review, a program that deals with issues that are the driving force of the economy in the water
00:32You can also watch our live streaming on IDXchannel.com and let's just start the complete market review
00:39Welcome to IDXchannel
01:09which has been going on since 2024
01:12still continues until 2025
01:15After staying at the US$15,000 level
01:18the currency of Garuda finally re-exceeded the amount of
01:2116,000 rupiah in the middle of December
01:242024, which is 16,019 rupiah
01:30The exchange rate of 16,000 rupiah per US dollar
01:33still held until the first month of
01:362025, exactly on the 21st
01:39of January, 2025
01:41The amount of rupiah almost touched the amount of
01:4416,400 US dollars on the 16th of January
01:472025
01:49Meanwhile, the President of the United States
01:52Donald Trump gave a strong signal to
01:55re-evaluate the US trade rates
01:58especially the 25% rate on imported goods
02:01from Canada and Mexico
02:03Trump has also signed a government order
02:05related to the US First trade policy
02:08which instructs federal agencies to investigate
02:11unfair trade practices by other countries
02:15On the other hand, although the conflict in the Middle East
02:18began to subside, often with the arrival of a weapon crisis
02:21between Palestine and Israel
02:23and added to the war between Russia and Ukraine
02:26not yet over, it is still considered one of the
02:29causes of the interference of global economic activities
02:32including Indonesia
02:34This condition also pushes the strengthening of the US dollar
02:37compared to the amount of other major currencies in the world
02:40where the US dollar has become a safe haven
02:43From Jakarta, the coverage team of IDX Channel
02:50Yes, viewers, to discuss our interesting topic this time
02:53the impact of the rupiah crisis on the national industry
02:55we have connected via Zoom with Mr. Joshua Pardede
02:58the head of the PT Bank Permata TBK
03:01Hello, Mr. Joshua, how are you?
03:03How are you, Mr. Bras?
03:05Thank you, Mr. Joshua, for your time
03:07and we are also joined by Mr. Ajip Hamdani
03:09economic policy analyst from the Indonesian Entrepreneurship Association, APINDO
03:13Hello, Mr. Ajip, how are you, sir?
03:15Very well, Mr. Bras
03:16Thank you for your time
03:18and talking about the weakness of the rupiah exchange rate
03:21This is interesting, Mr. Joshua, maybe you can review first
03:24about the current rupiah movement against the US dollar
03:28What is it like? Is the pressure still likely to continue?
03:32Or is there another potential for rupiah to grow?
03:36Yes, so if we evaluate the rupiah performance last year
03:40rupiah, with the global currency, generally experienced a weakness
03:46If we look at last year, in the full year of 2024
03:49rupiah weakened by almost 4%
03:52closed at 16,100
03:55and this year we also see rupiah still hanging at 16,300
04:01or maybe still weakening by about
04:05maybe the weakness is about 1%
04:08and if we compare this to the Asian currency
04:12maybe rupiah is one of the weakest currencies this year
04:18and of course we see that this is still the most dominant external factor
04:23affecting this condition
04:25because again, the main factor is
04:28the strengthening of the US dollar is happening
04:31to advanced countries or major currencies
04:36such as euro, sterling, yen
04:39and also other advanced currencies
04:42so in the end, this also affects
04:45the strengthening of developing countries' currencies
04:49including rupiah
04:50and these two main factors are related to
04:54the geopolitical tension
04:56and the second is related to the direction of foreign policy of the United States
05:02especially under the leadership of President Trump
05:05which in the end will also affect the direction of the policy
05:08of the Central Bank of the United States this year
05:11which we all know that
05:15last year, in 2024
05:17there is a chance that
05:19or the Fed still expects a decrease of 100 basis points
05:23for this year
05:25but with the development of the policy of the United States in the future
05:30the Fed is currently only seeing a decrease of around 50 basis points
05:34so the change of the Fed's balance sheet this year
05:39is also one of the factors why the dollar is strengthening
05:43so this is one of the reasons for the weakness of the rupiah exchange rate until now
05:48okay, that's it, still an external factor
05:50and the strengthening of the dollar to a certain extent is the main currency of the world
05:53Mr. Haji, for businessmen
05:55the strengthening of the US dollar
05:57which in the end gave depreciation to the value of the rupiah exchange rate
06:01how far is it if we look at it
06:03when we give pressure to the business world
06:05or the industry in the water
06:07yes, if we look at it, Mr. Pras
06:09that the value of the rupiah exchange rate
06:11which reached 16,300
06:13and almost touched 16,400 per USD
06:16that is a number that tends to be less ideal
06:19for the domestic economy in the country, Mr. Pras
06:21because if we look at it
06:23the macroeconomic framework in 2025
06:27which was designed by the government and the DPR
06:29it is also only in the range of 15,300 to a maximum of 16,000
06:33which means that when the rupiah continues to experience a weakness
06:37and above 16,000
06:38then of course it needs to be corrected
06:41based on the existing economy projections
06:43be it the country's economy
06:46the financial structure
06:47and also in the private sector
06:49in the context of the private sector, Mr. Pras
06:51indeed, the weakness of the rupiah exchange rate
06:53will give pressure to several sectors
06:55especially on several raw materials
06:57which we have to import whether we want it or not
06:59well, the condition is that we have to recalculate
07:02and the government has to push
07:04with a mix of fiscal monotype policy
07:06as well as economic policy
07:07so that our hope, Mr. Pras
07:09is that the rupiah will grow again
07:11in the range of 16,000
07:13below 16,000 is even our hope
07:15but here's the thing, Mr. Pras
07:17what is more important than just the value
07:19is how the value of the rupiah can be stable
07:22because with the stability of the value of the trade
07:24then the economic projection
07:26made by colleagues in the private sector
07:28it can be more visible
07:31don't let there be changes
07:33that are quite fluctuating
07:34in a year
07:36that is the hope of the business world, Mr. Pras
07:38so once again
07:39the government needs to push the policies
07:41that need growth and strengthening
07:43the domestic economy
07:44because if we look at it, Mr. Pras
07:46it is true that our import side
07:48is experiencing
07:50there will be a change in policy
07:51how is Mr. Prabowo's commitment yesterday, for example
07:53five years from now
07:55there will be no Migas imports, for example
07:57this is one of the positive things
07:59even how the narrative of food security
08:01and so on
08:02because these sectors
08:03will make the strengthening of the domestic economy
08:05in the country, Mr. Pras
08:06including, for example, how the government's orientation
08:09to increase oil lifting
08:11then to replace B40 to B50 and so on
08:13this is part of the government's orientation
08:15to replace imports
08:17and to focus on exports
08:19this will of course strengthen the domestic economy
08:21so the key is how the government
08:23focuses on the local economy, Mr. Pras
08:25Okay, the local economy
08:26and the fiscal and monetary policy
08:28to be able to sustain
08:30the rapid depreciation of the exchange rate
08:32we will discuss later in the next segment
08:33Mr. Ajib and Mr. Joshua
08:35we will be brief
08:36Mr. Pras, make sure you are still with us
08:46Thank you for joining us in Market Review
08:48In the next segment, we will present data for you
08:50related to the movement of the Bank of Indonesia
08:52BIR
08:53which has become a concern and domain of the Central Bank
08:56to see and reflect the movement of the exchange rate
08:59and also the movement of inflation
09:01this is it
09:025.75% of the BIR movement
09:04in the next segment
09:06we will be brief
09:08Mr. Ajib and Mr. Joshua
09:10we will be brief
09:12Mr. Ajib and Mr. Joshua
09:14about the BIR movement
09:16on 15th January
09:18which was decided by the Government of Bank Indonesia
09:20the next is the movement of inflation
09:22how is the movement in terms of months and years
09:24as you can see
09:26the movement
09:281.57% in December
09:30we can see the movement
09:32in terms of years
09:34while the month
09:36is around 0.44%
09:38if we look at month to month
09:40or year on year
09:42we can see an increase
09:44compared to the previous month
09:46the next is PMI Indonesia
09:48which is also a concern of the Government
09:50due to various policies
09:52that have been implemented
09:54some time ago
09:56until November
09:58it was still at the level of contraction
10:00even though in December
10:02there has been an increase
10:04PMI Indonesia has rebounded
10:06to 51.2
10:08so it has returned to the level of expansion
10:10until Q3 2024
10:12this is the trend
10:14in Q1 2024
10:165.11%
10:18in Q2 5.05%
10:20and in Q3 4.95%
10:22we will continue
10:24the discussion
10:26with Mr. Joshua Pardede, Head of Economics
10:28Bank Permata TBK
10:30and Mr. Ajib Hamdani, Economic Policy Analyst
10:32APINDO
10:34based on the data
10:36Mr. Joshua has provided
10:38from Central Bank
10:40and the policies that are expected
10:42as Mr. Ajib said
10:44the fiscal monetary policy
10:46must be synergistic
10:48to maintain the stability of the currency exchange value
10:50Mr. Joshua
10:52so if we look at
10:54the policy of Bank Indonesia
10:56in the RDG this January
10:58where Bank Indonesia reduced its bond
11:00to 5.75%
11:02I responded
11:04with a good response
11:06I also see that
11:08with the reduction of the bond
11:10on the one hand
11:12it can accelerate economic growth
11:14because it will push
11:16the growth of credit
11:18because if we look from the demand side
11:20the recent phenomenon
11:22is that the middle class is experiencing weakness
11:24so
11:26the reduction of the bond
11:28I think is the right decision
11:30and on the other hand
11:32Bank Indonesia also requires
11:34that the response to maintain
11:36stability will also continue
11:38Rupiah stability
11:40by doing triple intervention
11:42then also by coordinating
11:44by synergizing with the government
11:46for example
11:48with the government debt
11:50owned by Bank Indonesia
11:52in the PEN framework
11:54National Economic Management
11:56that is
11:58with government obligations
12:00owned by BI
12:02the debt switch will be done
12:04that's the first, the second is
12:06the synergy is
12:08Bank Indonesia will also enter
12:10the secondary market
12:12and I think these are the steps
12:14that will maintain
12:16stability in the SBN market
12:18and in the end will also maintain stability
12:20in the value of Rupiah
12:22and beyond that
12:24we also see that
12:26Bank Indonesia will
12:28from the intensity side
12:30in terms of SRBI
12:32but this instrument
12:34SRBI is also still one of
12:36the instruments that is expected to absorb
12:38or attract foreign investors
12:40because if we look
12:42last year
12:44the increase in foreign investors
12:46in SRBI is almost US$10 billion
12:48so of course it becomes one of
12:50the hopes to be able to push
12:52or maintain
12:54an increase in the deficit side
12:56and of course from the fiscal policy side
12:58because of course I agreed with Mr. Ajib
13:00that how this government policy
13:02can take advantage of
13:04momentum with the existence
13:06of dollar strengthening, for example
13:08in addition to pushing exports
13:10of course we can also
13:12give more incentives
13:14for example for the tourism sector
13:16because of the condition with
13:18weakness or strengthening of this dollar
13:20we can take advantage of it to be able to
13:22move the tourism sector so that
13:24this national tourism
13:26can enter Indonesia because of course
13:28there will be more
13:30tourists coming to Indonesia
13:32and this in the end will be able to
13:34face a deficit and also push
13:36MSMEs in the country
13:38so I think policies
13:40like this government of course
13:42will be able to
13:44create job opportunities
13:46because if we talk about
13:48MSMEs
13:50tourism sector
13:52I think this will be one of the
13:54sectors in the middle of manufacturing
13:56some manufacturing sectors
13:58that are currently experiencing
14:00not easy conditions
14:02with the global market
14:04also experiencing weakness
14:06Okay, Mr. Joso. What do you see, Mr. Ajib?
14:08If for example with some
14:10efforts that have been made earlier,
14:12the decrease in the rate of inflation, then our
14:14MSMEs that have returned to the level
14:16of expansion, then the inflation
14:18that is maintained, can it be
14:20one of the triggers
14:22to push the activities of the business world
14:24or the Indonesian industry in
14:262025?
14:28Okay, it's interesting if you quote
14:30Mr. Josua earlier, Mr. Pras
14:32I will summarize a few points
14:34one is about the monetary issue first
14:36actually like this, if in terms of
14:38economic theory, it should be when the government
14:40will do strengthening
14:42the value of the currency, the government should
14:44increase the level of investment so that
14:46there is capital inflow, so
14:48how foreign funds get more
14:50Indonesia, because it sees how
14:52the margin or cost of fund is good
14:54and high, that is a macro economic theory
14:56of Mr. Pras, but then
14:58if we look at when Bank Indonesia
15:00issued a monetary policy by
15:02reducing the rate of inflation to
15:04become 5.75
15:06means the government
15:08is focused on strengthening the economy
15:10in the country actually, the main point
15:12there, because the government wants more
15:14liquidity that flows into the
15:16Indonesian financial economy system and
15:18then what else can be continued
15:20with and followed by
15:22a decrease in the level of credit flow
15:24for example, this will of course be
15:26healthier for the domestic economy
15:28in the country, then the second is about
15:30fiscal policy, in
15:32a condition like now, Mr. Pras, the ideal is
15:34the government is more
15:36pressing the Indonesian fiscal deficit
15:38the problem is three years from now we can't
15:40do that, where in 2025
15:4226 and 27, the debt
15:44fell at a pace that was also mentioned by
15:46Mr. Pras, this is part of the
15:48scaring effect of the pandemic yesterday
15:50because of the National Economic Recovery Program
15:52in 2020
15:542021 and 2022
15:56then our debt is above
15:583% of GDP
16:00now the bleeding is
16:02now, where three years from now
16:04our debt falls at a pace not less than
16:06800 trillion every year
16:08means if we face fiscal policy
16:10with a deficit that we are
16:12pressing, it seems like it will be
16:14because the fiscal space of the government is limited
16:16our hope is in economic policy
16:18because when monetary and fiscal are
16:20lacking in support, our hope is in economic policy
16:22and that's why if we look
16:24yesterday, Menko Ekonomi
16:26Mr. Erlang Gahartarto made a policy
16:28for example, the export
16:30deficit was held for
16:3212 months or one year
16:34100% of its GDP
16:36this does create a pro-contra
16:38of course, but we see
16:40Mr. Pras, how the efforts of the government
16:42in the economic policy to
16:44strengthen the value of the currency
16:46which of course is in the middle
16:48range until
16:50the end of December 2025
16:52later, this will provide
16:54strengthening and give
16:56positive impact on the currency
16:58okay, Mr. Jip, Mr. Joshua
17:00how about the DHA policy
17:02or the export deficit that
17:04the duration is extended as planned
17:06from six months to one year
17:08is it effective to maintain the movement
17:10of the Rupiah exchange rate
17:12even though Mr. Jip said that
17:14to push the liquidity of the dollar
17:16into Indonesia, there is a strategy
17:18to increase the exchange rate
17:20but on the other hand, the government
17:22is also focused on developing
17:24Indonesia's economic growth
17:26yes, actually we still need to
17:28wait for the PPP
17:30because the devil is on the detail
17:32the details of the incentives
17:34that Mr. Jip mentioned
17:36we need to wait
17:38for the government to provide
17:40because with the current policy
17:42based on the discussion with
17:44several other actors
17:46especially in several CPO actors
17:48indeed, if for example
17:50only three months, there is
17:52of course
17:54there is a difficulty related to cash flow
17:56because there are several
17:58business actors who really need
18:00for their own working capital
18:02in Rupiah, so that
18:04maybe there is
18:06a burden, but with
18:08the addition of incentives, of course
18:10there needs to be a further
18:12socialization by the government
18:14so that later, the business actors
18:16in this matter, even the exporters also have
18:18the same understanding, that
18:20with this incentive, for example
18:22the business actors
18:24or the exporters
18:26do not have the difficulty of working capital
18:28for example
18:30for their own operational
18:32so that if it can
18:34answer, I think
18:36this DHI policy, I think
18:38will be supported by business actors like that
18:40Okay, we will see what it is like
18:42because this polemic is quite long
18:44whether the funds can really be used
18:46or really have to wait
18:48for the next year
18:50and also how the sentiment
18:52of Rupiah weakness
18:54can be optimized
18:56for the exporters to be able to add
18:58more funds for the country
19:00we will discuss later in the next segment
19:02Thank you for joining us in Market Review
19:04and Mr. Aji, how do you feel
19:06about the weakness of Rupiah
19:08and the strengthening of the US dollar
19:10relative to the amount of money
19:12in the rest of the world
19:14can be optimized
19:16for the country
19:18and how do you feel
19:20about this?
19:22Thank you very much
19:24Mr. Aji
19:26Thank you very much
19:28Mr. Aji
19:30and how do you feel
19:32about the weakness of Rupiah
19:34relative to the amount of money
19:36in the rest of the world
19:38can be optimized
19:40for the country
19:42and how do you feel
19:44about the weakness of Rupiah
19:46relative to the amount of money
19:48in the rest of the world
19:50can be optimized
19:52for the country
19:54and how do you feel
19:56about the weakness of Rupiah
19:58and how do you feel
20:00about the weakness of Rupiah
20:02relative to the amount of money
20:04in the rest of the world
20:06can be optimized
20:08for the country
20:10and how do you feel
20:12about the weakness of Rupiah
20:14relative to the amount of money
20:16in the rest of the world
20:18can be optimized
20:20for the country
20:22and how do you feel
20:24about the weakness of Rupiah
20:26relative to the amount of money
20:28in the rest of the world
20:30can be optimized
20:32for the country
20:34and how do you feel
20:36about the weakness of Rupiah
20:38relative to the amount of money
20:40in the rest of the world
20:42can be optimized
20:44for the country
20:46and how do you feel
20:48about the weakness of Rupiah
20:50relative to the amount of money
20:52in the rest of the world
20:54if the sector like this needs to be exercised
20:56more by the government
20:58and given the best incentives
21:00so that in the momentum of the weakness of Rupiah
21:02it actually gets maximum benefits
21:04that's what we hope
21:06then if we look at how
21:08their policies
21:10for example, DHE becomes 1 year
21:12indeed this is for
21:14exporters
21:16something that is very challenging
21:18because it has to recalculate
21:20and make adjustments or adjustments
21:22to the financial situation for the next year
21:24because the policy will make
21:26how the business scheme in the internal company
21:28will change
21:30but if we look at it, how
21:32the external policy will also affect
21:34where the euphoria
21:36now Donald Trump is appointed
21:38then this is our assumption
21:40Donald Trump will focus on strengthening
21:42the domestic economy in America
21:44they tend to reduce
21:46taxes for
21:48their domestic products and then increase
21:50tariffs especially for countries
21:52that are still surplus
21:54in a surplus context
21:56because if we look at
21:58trade between Indonesia and America
22:00Indonesia still has a surplus of less than US$11 billion
22:02this is what we observe
22:04don't wait until later
22:06how the foreign economy policy
22:08it has an impact
22:10on Indonesian trade
22:12our hope is
22:14the government can still focus on
22:16bilateral strengthening
22:18so that we are not only dependent
22:20on America, but we can do
22:22strengthening in two countries
22:24including strengthening and increasing
22:26our benefits by combining with a BRICS country
22:28for example, because Russia
22:30and India I think
22:32is a market that is quite extraordinary for Indonesia
22:34that's it, Mr. Pras.
22:36Mr. Joshua, what strategy should be applied
22:38if the export deficit
22:40becomes one year
22:42what kind of incentive
22:44can be a sweetener when finally
22:46Indonesian exporters
22:48are quite enthusiastic to increase
22:50energy, then can they
22:52get a new source of income
22:54for example, from water quality?
22:56Yes, I think, of course,
22:58flower incentives are very important
23:00especially for business owners
23:02who are export-oriented
23:04and of course, facilitate
23:06MSMEs
23:08for those who want to expand abroad
23:10or to own the export market
23:12to have facilities
23:14and maybe beyond that
23:16maybe it's related to BRICS
23:18I think, in my opinion
23:20if we talk about FTA
23:22we still don't have FTA
23:24for example with Brazil, South Africa
23:26with Russia, we just have
23:28a new FTA with China
23:30and India
23:32it means we still have
23:34room for a new export market
23:36it means with the
23:38expansion of the export market
23:40it can also expand or
23:42limit the decline of
23:44China's delay for example this year
23:46and besides that
23:48related to investment, it can also
23:50be one of the options that we can
23:52increase. Maybe from the
23:54business side, maybe
23:56Bank Indonesia has actually
23:58done education related to local
24:00transaction currency, it means
24:02I think this also needs to be voiced
24:04it means how
24:06this banking can
24:08facilitate so
24:10the business owners, especially the importers
24:12so they don't have to worry
24:14about mitigating
24:16the risk of exchange value
24:18with local transaction currency
24:20it means the settlement
24:22with local exchange value
24:24it means for example
24:26the business owners who
24:28get their stocks from China
24:30or China, no longer have to
24:32exchange it
24:34with dollars
24:36or for example
24:38we only need to mitigate the risk
24:40with Chinese Yuan for example
24:42it means the condition
24:44I think products like hedging
24:46need to be
24:48fully socialized
24:50because in the end
24:52business owners or
24:54business owners must
24:56focus on business risk
24:58but if we talk about
25:00business owners also
25:02dealing with exchange value
25:04risk, it will
25:06cost twice
25:08but if
25:10the risk is
25:12hedging money
25:14it must be
25:16facilitated
25:18it means the cost
25:20can also be suppressed
25:22so there will be an incentive for business owners
25:24especially the importers
25:26so the burden for hedging
25:28for local transaction currency
25:30so the incentive increases
25:32Mr. Josonah
25:34so how about hedging?
25:36has it been done by business owners
25:38and local currency
25:40which is also done
25:42with other businesses
25:44such as B2B
25:46with other countries, has it been done?
25:48Yes, I think this is
25:50part of Indonesia's banking policy
25:52because this is part of the monetary policy
25:54and if we look at it
25:56we have started doing it
25:58with countries
26:00such as South Korea
26:02we also see it with
26:04Malaysia, with several countries
26:06in ASEAN, it has also been done
26:08our hope is that it will be more developed
26:10to other countries that have higher
26:12volume of trading
26:14such as China, India, etc
26:16so this is part of
26:18the de-dollarization program
26:20to reduce our dependence on dollars
26:22and this has a positive effect
26:24that we don't need to
26:26look for dollars when transacting with
26:28countries whose original currency is not dollars
26:30this means
26:32that it will not increase
26:34the demand, as Mr. Joshua said
26:36when it comes to China
26:38we just need their currency
26:40and that's it, so we don't need
26:42to look for dollars
26:44for transactions that are actually
26:46not the main currency in the country
26:48that's our hope
26:50and I think the government through
26:52the Indonesian Bank needs to expand
26:54bilateral cooperation
26:56because this is done bilaterally
26:58and actually
27:00for example, when Indonesia enters
27:02the BRICS country, this can be
27:04the next policy
27:06because once again, in addition to trading transactions
27:08that we expect from new countries
27:10is of course there is investment
27:12because if we look at it
27:14Mr. Prabowo has a very ambitious target
27:16where in the next 5 years
27:18the investment will not be less than
27:2013 trillion, this requires
27:22a bilateral
27:24work pattern
27:26which is very intensive
27:28and I think if the investment
27:30in numbers, when it enters
27:32in the next 5 years, 13 trillion
27:34then of course it will make the value
27:36of the rupiah better, more stable
27:38and increase the returns in the country
27:40that's it, Mr. Prabowo
27:42the challenge is still there, even though
27:44various strategies have been applied
27:46but we will see hopefully
27:48from the efforts of the government
27:50as well as the business world
27:52can hold the value of the rupiah
27:54we will see how the policies
27:56of other developing countries
27:58including the United States
28:00with the election of Donald Trump
28:02will lead the United States
28:04Mr. Joshua, Mr. Ajib, thank you very much
28:06for the time sharing and update
28:08that you have given to the audience today
28:10continue your activities
28:12good health, see you again
28:14thank you Mr. Joshua, Mr. Ajib
28:16thank you
28:18audience, don't leave your seat
28:20because we will still be back
28:22next episode will be about the optimistic government
28:24that doesn't import BBM in 5 years