In entering this defining moment, it also critical to note that in order to achieve such continuous economic growth, we require the presence of a robust formal sector which able to perform optimally. Emphasis on the informal and micro, small and medium enterprise sectors, albeit with significant growth, should be considered as a temporary supporting pillar.
Our policy interest rate was 1.75 percent before the pandemic, so we had some room for conventional monetary policy easing. And we have long had a resilient financial system.