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Jakarta –
The DPR Budget Agency (Banggar) provided information to the Bank of Indonesia (BI) to print Rp 600 billion. According to Banggar, now is the time for BI to print the money.
The head of the Budget Agency, MH, said Abdullah, explained that the government had issued Perppu Number 1 of 2020 to deal with the impact of Corona. The Perppu, he said, was born in a state of emergency.
Meanwhile, he said, BI still implements the usual monetary operations in the midst of this crisis.
“The application of interest rates is still normal, SBN, GWM dropped 200 basis points, but at the same time also raised the PLM buffer of 200 basis points of macroprudential liquidity. Therefore, bank liquidity is really dry because operations BI currencies are still carried out in the normal way, “he explained. AFP, Sunday (5/3/2020).
According to him, the government cannot manage the Crown, it needs the role of BI. He also said, inflation could be calculated.
“Therefore, he concluded that if the government was unable to walk alone, the role of BI was expected. BI would have already spent Rp.600 trillion according to government regulations. Inflation could be calculated, it could not be calculated “he explained.
“If Rp 600 trillion is printed, then it seems that the money is flooding, not really. Our relationship is if BI prints Rp 600 trillion, inflation is around 5-6%, not much. The period of Rp 600 trillion suddenly inflation will increase 60-70 “from where the count is,” he added.
The government itself has budgeted Rp 405 billion to protect itself from Corona. He said he needed a source of funds to do this.
“Due to the urgency of forcing this year to include what was planned refocusing, the government reallocation of Rp 405 trillion is in line with the government’s objective, the central role of BI is expected to be expected the last resort“It is worth 600 trillion rupees, but with 2.5% interest,” he explained.
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