TEMPO.CO, Jakarta - Vice President Jusuf Kalla expressed his support over the rupiah redenomination plan, saying it will result in more efficient bookings.
"This is for efficiency purposes—it won't change the value," he said in Jakarta, Tuesday.
The government has established a team to discuss the redenomination plan, which involves staff members of the Finance Ministry, Bank Indonesia, the Law and Human Rights Ministry, and the State Secretariat Ministry.
Read: Minister Darmin: Rupiah Redenomination will Not Take Long
The rupiah redenomination plan has been proposed in a law draft (RUU) since 2016 to the House of Representatives (DPR). To date, the draft has not been included in the national legislation program.
Kalla said that many countries have redenominated their currencies before, such as Turkey. Indonesia has also done it in the past during Soekarno's presidency.
"A redenomination will not affect the economy as it will only change the numbers," Kalla said.
BI governor Agus Martowardojo said Indonesia's economy is ready for a redenomination, with a consistent growth rate of more than five percent and a controlled inflation at around three percent. The political situation is also quite supportive and more stable.
AMIRULLAH SUHADA | ISTMAN M.P.