JAKARTA. Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso explained that his party prioritizes stimulus for automotive and home credit because these sectors have created extraordinary jobs.
"We want to push this demand faster for automobiles, including motorbikes and cars," said Wimboh in a virtual discussion of the Central Java and Yogyakarta Financial Services Industry Workshop, Monday (8/3/2020).
According to Wimboh, with the declining interest rate trend, he hopes that this trend will encourage increased demand in both sectors. Increasing demand will create a multiplier effect. He also gave an example that the automotive sector will have an impact on the enthusiasm of supporting industries such as workshops, spare parts, and financing (multifinance). Likewise, real estate has an impact on increasing demand for cement.
In the policy of providing stimulus, OJK will play a role in five main policies in the financial sector with the government and Bank Indonesia in 2020, namely restructuring, loosening liquidity, subsidizing interest, guaranteeing working capital loans, and reducing reference interest rates.
Finally, in 2021 the OJK will play a role in the main policies of the financial sector related to the new normal era, namely relaxation of Risk Weighted Assets (RWA), relaxation of loan to value ratios (LTV) and down payments (DP), tax incentives, and continuing restructuring policy. (AM/LM)