OJK Lowers 2025 Capital Market Fundraising Target to Rp 220 Trillion Amid Economic Recalibration
JAKARTA, investortrust.id — Indonesia’s Financial Services Authority (OJK) has revised its 2025 capital market fundraising target downward to Rp 220 trillion ($14.3 billion), a 15% reduction from the Rp 259.24 trillion achieved in 2024, citing evolving economic challenges and policy adjustments. The announcement was made Tuesday by OJK Chairman Mahendra Siregar during the 2025 Annual Financial Services Industry Meeting in Jakarta.
The move reflects broader efforts to align financial sector projections with Indonesia’s shifting macroeconomic outlook. Last year’s capital market performance—driven by robust activity in initial public offerings (IPOs) and debt securities issuances, including sukuk (Islamic bonds)—saw 43 companies raise Rp 17.28 trillion through public listings and Rp 241.96 trillion via debt instruments.
“Despite current headwinds, we remain optimistic about the financial sector’s resilience in 2025, supported by targeted regulatory reforms,” Siregar stated, emphasizing the OJK’s commitment to periodic reviews of its projections to mirror national economic trends.
The revised target arrives as policymakers prioritize measures to enhance market transparency, promote sustainable growth, and implement Indonesia’s recently enacted Financial Sector Development and Strengthening Law (P2SK). Siregar underscored the need for “policy reinforcement” to improve Indonesia’s investment climate and address systemic risks.
Broader Sector Projections
Beyond capital markets, the OJK outlined growth forecasts for key financial segments:
- Banking: Credit expansion of 9–11%, supported by a 6–8% rise in third-party deposits.
- Insurance: Assets expected to grow 6–8%.
- Pension Funds: Assets projected to increase 9–11%.
- Financing Companies: Receivables forecast to climb 8–10%.
The adjustments signal a strategic pivot as Indonesia navigates global volatility and domestic reform efforts. While capital market fundraising is slated to decline, officials argue the recalibration balances prudence with opportunities in emerging sectors.
Analysts suggest the OJK’s tempered outlook reflects caution over tightening global liquidity and slower-than-expected recovery in key export markets. However, the authority’s focus on regulatory modernization and sectoral diversification may bolster long-term investor confidence.