Policies that support stability still need to be balanced with policies that support economic growth.
Please note that this article was automatically translated using Microsoft Azure AI, Open AI, and Google Translation AI. We cannot ensure that the entire content is translated accurately. If you spot any errors or inconsistencies, contact us atEfforts to boost economic growth are a crucial factor for a country. The higher the economic growth, the higher the increase in economic activity of the country. However, it cannot be denied that this factor is not enough to maintain economic resilience.
Professor Boediono, the 11th Vice President of the Republic of Indonesia and a well-known national economist, once likened the economy to riding a bicycle. When the bicycle is moving, the dynamics of economic growth are in motion. On the other hand, there are other factors to keep the bicycle moving and not falling, namely balance. Balance is the side of economic stability. This means that both factors must go hand in hand.
However, what if a bicycle is ridden at night and must pass through a foggy, poorly-lit, and unfamiliar road? The rider must respond wisely, being more cautious and alert, and need to adjust the speed of the bicycle. The goal is to keep the bicycle stable and avoid falling when passing through uneven road sections.like today.
In other words, the right policy response is the key to harmony between stability and growth in order to realize national economic resilience.The right policy response needs to target clear indicator targets. In this case, it must be acknowledged that one of the main indicators affected by the latest global economic dynamics is the exchange rate.
Going forward, it is necessary to realize that policy coordination and harmonization must be strengthened to ensure that the national economy continues to grow positively in the midst of a global economic situation that is increasingly challenging. It is also important to realize that policies to align stability and economic growth are far more important than simply pursuing high economic growth.
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