Chief Economist of PT Bank BCA Tbk David Sumual said that the economic recovery in Indonesia was still not evenly distributed across all sectors of the economy. Because, according to him, the recovery will only occur in sectors related to commodities outside Java. David said, based on his gathering experience with traders at Tanah Abang Market, it was seen that there was an anomaly felt by the traders. "There seems to be an anomaly for this year, usually after Lebaran, according to them, textile sales have dropped dramatically. But in the last few weeks sales have been quite strong, so indeed they still come from the regions," he said at the INDEF 2022 Mid-year Study Seminar on Wednesday (6/06). 7/2022).
David considered this to be one of the things related to the commodity sector, which is indeed performing quite well in the regions. Those who get windfall are mainly coal, base metals, minerals and plantations.
Meanwhile, the sectors that have not yet experienced recovery include hospitality which is still up and down and textiles are the main players, which are big players because there are still obstacles in the global market which has not fully recovered.
"And indeed we have noticed that for the textile sector, which is large, there are obstacles, including quite large bad loans which are also a problem. Including those that have not been fully recovered, we see that they have not returned to the trend before the pandemic, namely airlines," he explained.
On that occasion David also argued that, to take advantage of the wind fall from rising commodity prices, Indonesia needs to take several steps, one of which is investing in infrastructure and developing Human Resources (HR).
In addition, it is necessary to invest in manufacturing and agricultural production capacity, avoiding non-productive spending and ineffective projects that increase imports.
This is also in line with preventing the strengthening of the rupiah which can actually reduce the competitiveness of the domestic manufacturing industry. The achievements of structural reforms in a decade with the Ciptaker Law also need to be kept in line with the Sovereign Wealth Fund (SWF).
"The achievement of structural reforms in the last decade through downstreaming and the Job Creation Act also needs to be maintained, funds generated from the windfall need to be managed technocratically by the Indonesian Sovereign Wealth Fund (SWF), and diversification of trading partners must continue," he concluded.
