Providing Insight on ASEAN Financial Stability through International Seminar

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(From the left) Nico Omer, Bhima Yudhistira, Isa Rachmatarwata, and Tika Widiyastuti in international seminar in Fadjar Notonagoro Hall, FEB UNAIR, Monday, November, 21.

UNAIR NEWS – Faculty of Economics and Business (FEB) UNAIR held International Development Student Conference titled “Realizing the Asean Financial Stability Amidst Global Economic System Dynamic” on Monday, November 21 in Fadjar Notonagoro Hall, FEB UNAIR. The event held by Student Executive Board (BEM) FEB was attended by 400 students from around Indonesia, ASEAN countries, and students from the Middle East.

In the seminar, there were speakers from Head of Regional Finance and Asset Management Agency Dr. Ir. Budi Setiawan, M.MT, Indonesian Ministry of Finance Staff Isa Rachmatarwata, representative of Institute for Development of Economics and Finance (INDEF) Bhima Yudhistira, Vice President of Valbury Asia Future Nico Omer and also Dr. Tika Widiyastuti, S. E., M.Si as the moderator.

Head of FEB BEM Rusdinal Muslih said that students attending the seminar were expected to actively contribute in generating creative ideas for further discussion. “We must contribute some ideas on global finance stability, especially in Indonesia,” said Rusdinal Muslih in his speech.

Vice Dean I FEB UNAIR Dr. Rudi Purwono, SE.,MSE also added that ideas from the students will be useful for Indonesian economy condition, one of them is equality of macro economy in the future.

“We share on how East Java can achieve 2016 national output with its market potentials. We are also expected to improve equality on macro economy for Indonesia in the future,” said Rudi followed with a round of applause.

As the keynote speaker in the international seminar, Budi Setiawan elaborated that in the third trimester, Indonesian macro economy has grown and reached 5.04 percent. “If Indonesia only use the primary sector only, it won’t be strong enough, because the link between the sectors should be connected and developed. In agriculture, manufactures, and trade should be connected,” he said.

According to Budi, there are some problems hampering economic growth of Indonesia especially East Java, they are limited government revenue, the high cost of capital fund. “Furthermore, global situation related to other countries’ low demand and international trade deficit are also problems for us,” he explained.

The solution, Budi said that there are three things in need of fundamental restructuring, such as by small scale trade, monetary (one digit interest) and fiscal (minimize UKM tax). Furthermore, Budi also invited the students to keep contributing in economy. “For you my juniors who have ideas on economic growth, please communicate them. We can work together and help each other,” he said. (*) Author : Dilan Salsabila
Editor : Faridah Hari

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