The Master of Economics Program of the Faculty of Economics and Business (FEB) Universitas Airlangga held a public lecture entitled “Economic Stabilization Policy: Strategy to Maintain Indonesia’s Economic Growth Momentum Amidst Global Economic Uncertainty.” Dr. H. Soekarwo, the keynote speaker at the event, which was opened by Vice Dean I of FEB UNAIR Dr. Wisnu Wibowo , discussed various global challenges that threaten Indonesia’s economic stability, such as the US-China trade war, the COVID-19 pandemic, geopolitical conflicts, and worsening climate change. The lecture was attended by Master of Economics students from various fields, including Master of Management, Accounting, Islamic Economics, and Economics.
Dr. Soekarwo emphasized the importance of economic stabilization policies to maintain national resilience. In a global climate of uncertainty, Indonesia needs to prioritize a balance between monetary and fiscal policies. He believes that appropriate monetary policy can control inflation and stabilize prices, while fiscal policy must stimulate the economy by creating jobs and increasing purchasing power.
He also highlighted the crucial role of MSMEs, the backbone of the national economy. Although MSMEs contribute significantly to Gross Domestic Product (GDP) and employ a significant portion of the workforce, access to credit for this sector remains limited. Dr. Soekarwo advocated for policies that expand access to capital and marketing for MSMEs, enabling this sector to survive and thrive amidst global market competition.
Industrial downstreaming was also a key focus in his presentation. By halting raw material exports and developing domestic processing industries, such as the construction of nickel smelters, Indonesia can create added value and increase state revenue. This downstreaming is believed to increase economic resilience and open up new job opportunities for the community.
In the era of the growing digital economy and the gig economy, Dr. Soekarwo also emphasized the importance of regulations that protect workers, particularly in the informal economy. He emphasized that stable economic policies are not only about maintaining growth but also ensuring equitable prosperity for all levels of society. This public lecture provided comprehensive insight into the policy strategies needed to keep the Indonesian economy resilient in the face of global turmoil.