00:00 The Bank of Indonesia has ensured that the increase in the civil service wage
00:04 will not push inflation to the minimum wage of the province next year.
00:08 The Governor of Indonesia has said that the increase in the minimum wage will push consumption,
00:12 but next year, the expected consumption is still below its potential.
00:16 The Bank of Indonesia has ensured that the increase in the minimum wage in 2024
00:24 will not increase the consumption of the public in general.
00:28 However, the Governor of Bank Indonesia, Perry Wardjo, explained that the consumption
00:32 in the projection is still below its capacity,
00:36 so he is sure that the rate of inflation next year is also predicted to remain stable.
00:41 Perry explained that the increase in the minimum wage to the state budget
00:46 will still have an impact on the demand,
00:49 but it is ensured that the increase in the demand is still below the national capacity,
00:53 so it will not push inflation.
00:57 The increase in the minimum wage will push the demand,
01:02 because the income of the public will increase,
01:05 the consumption will increase, and the growth will increase,
01:08 but the growth of the demand is still below the national capacity,
01:14 so it will not interfere with the inflation.
01:22 In Bank Indonesia's study, if the increase in the minimum wage in 2024 is 5%,
01:28 it will push the increase in inflation to 0.04%,
01:32 especially the average minimum wage in 33 provinces at the moment is only 3.6%,
01:39 so it is ensured that the impact will not be significant on inflation.
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01:54 [MUSIC]
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