VP Outlines 4 Steps for Achieving Economic Justice in Indonesia

Jakarta: Indonesian Vice President Ma’ruf Amin has outlined four steps that can help realize economic justice—a mandate inherited from the nation’s founders and laid down in the Pancasila and the 1945 Constitution.
 
To realize economic justice, Indonesia’s economic progress must prevent inequality in society, he said in his remarks at the XXII Indonesian Economic Bachelors Association (ISEI) Plenary Session and the 2022 ISEI National Seminar in Jakarta on Wednesday.
 
“A sharp idea is needed to utilize economic resources to achieve this goal,” he added, according to a press statement received here.

Resources can be used to realize economic justice through four concrete steps, he said.
 
The first step is establishing supply chains for basic needs to avoid disruption at the grassroots level. The most basic economic stability is ensuring the basic needs of the community, especially food, Amin explained.
 
The second step is designing an effective fiscal and monetary policy mix. The government must be careful in formulating fiscal and monetary policies to maintain macroeconomic and financial sector stability, which is important to prevent crisis risks.
 
This is expected to help it support national interests while remaining sensitive to the needs of the lower middle class, the Vice President.
 
The third step is strengthening innovation and digitalization to encourage inclusive economic growth. In the long term, its benefits are expected to reach community groups across Indonesia and reduce economic inequality.
 
The fourth step is to encourage equity, among others, by promoting cooperative businesses, limiting land tenures, facilitating access to capital for micro, small, and medium enterprise (MSME) owners, state-owned enterprises’ (SOEs’) control over production branches, and rural industrialization based on local resources.
 
Therefore, the Vice President advised all ISEI members to carry out their functions as economic experts to support the realization of Indonesia’s target of equal distribution of economic justice across the country.
 
“ISEI, whose members are economic experts spread across various institutions, certainly plays a vital role in presenting fresh ideas for managing a stronger national economy. I hope that this event will be able to produce useful thoughts for inclusive and dignified national economic development in the future,” he added.

 

(WAH)