President Joko Widodo encourages collaboration between the financial services sector and the real sector to support national economic recovery. At the 2022 Financial Services Industry Annual Meeting, Jokowi appreciated the good coordination between the Financial Services Authority (OJK) and underlined the importance of mutually supporting these two sectors. Jokowi also strengthened economic recovery by encouraging financing for Micro, Small and Medium Enterprises (MSMEs), which have a significant contribution to the people's economy. The target is to reach 30% of the MSME loan portion by 2024 with a breakthrough strategy and serious action.
In addition, Jokowi highlighted the policy of developing new economic resources related to the environment to create added value for the national economy. During the event, Jokowi launched Indonesia's Green Taxonomy, which is an OJK initiative to support this year's G20 Presidency and develop a green economy sector. This Indonesian Green Taxonomy provides a classification of economic activities that support environmental protection and climate change. OJK projects bank credit growth of around 7.5% this year, taking into account national economic growth of around 5% to 5.5%. National credit growth is influenced by high social mobility, which has an impact on increasing consumption and credit.
