The Financial Services Authority (OJK) projects that Indonesia’s digital economy in 2025 has the potential to reach US$130 billion or the equivalent of IDR 1,950 trillion (exchange rate of IDR 15,000).
Bambang W. Budiawan, Deputy Commissioner for Supervision of Financing Institutions and Other Financial Services Institutions, revealed that the current contribution of the e-commerce sector in the country has reached US$59 billion or the equivalent of 80 percent of Indonesia’s digital economy.
“In two years we will reach US$130 billion,” said Bambang at the Senayan Court, Jakarta, Friday (14/7/2023).
This projection, he said, was driven by various innovations carried out by business actors, followed by demographic bonuses and population stratification, as well as internet literacy which has reached 216 million.
“In 2030, it is estimated (the digital economy) will grow to US$360 billion due to the acceleration of the digital economy and various innovations made by other business actors,” he said.
Meanwhile, Bambang said that his party was encouraging MSMEs to enter the digital ecosystem, moreover their contribution to Indonesia’s GDP was quite high, reaching 60 percent. This amount has a very large potential to be developed.
He then said, the government is targeting 24 million MSMEs to enter the digital ecosystem this year. In addition, OJK is also encouraging financing procurement schemes for MSMEs to further enhance their role.
Together with a number of stakeholders and ministries—including the BUMN holding—his party is trying to regulate various schemes, ranging from ultra-micro, super-micro, KUR financing, to structuring policies.
Bambang also welcomed the development of the fintech industry in Indonesia. This industry, he said, continued to grow positively, even though the graphs tended to be sloping. However, the purchasing power of Indonesian people is now completely digital and involves fintech, e-commerce , and others.
“That’s normal (a sloping chart), it’s also a name for an industry that has only been developing for 6-7 years, but has recovered relatively quickly and continues to grow,” he concluded.
SOURCE: goodnewsfromindonesia
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