Kadin: Indonesia's Economic Fundamentals Are Stronger Than the 1998 Crisis
Chairman of Kadin Anindya Novyan Bakrie assessed that Indonesia's economic fundamentals remained strong with growth of 5.1 percent, much better than the 1998 crisis and pandemic. He acknowledged the pressure of capital outflow of IDR 124 trillion and the weakening of the JCI, but pointed to PMA and foreign exchange reserves as supports.
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General Chair of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Novyan Bakrie, assessed that Indonesia's economic fundamentals are still strong amidst pressure from global financial markets. He conveyed this assessment at the Kadin National Leadership Meeting (Rapimnas) at the Borobudur Hotel, Jakarta, on October 29 2026.
Anindya compared the current conditions with previous crises. Indonesia's economic growth is still at 5.1 percent, much better than the 13 percent contraction during the 1998 crisis and minus 2.1 percent during the 2020 pandemic. However, he acknowledged the real pressure he faced: foreign capital outflow reached IDR 124 trillion, the JCI weakened 40 percent, and the US dollar exchange rate touched IDR 18,170.
As a comparison, Anindya mentioned a number of positive indicators: foreign investment (PMA) of IDR 270 trillion, average net profit for issuers growing 16 percent, foreign exchange reserves of US$ 146 billion, and annual credit growth of 13.3 percent. According to him, this foundation is an important capital for Indonesia to overcome global turmoil.
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Pernyataan Kadin ini menjadi penyeimbang di tengah kekhawatiran pasar. Pelaku usaha menanti kebijakan konkret untuk menjaga momentum pemulihan.
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