As the holy month of Ramadan comes, BI representatives in West Papua advise the public to spend their money wisely. This habit is beneficial to prevent inflation. Additionally, wise shopping can also prevent price hikes.
Ramadan is a time when many people spend more money than usual, particularly on food and other essentials. However, BI representatives warn that excessive spending could lead to inflation and price hikes. As a result, people can be difficult to afford basic necessities.
BI representatives advise people to be mindful of their budgets to prevent this. Also, they should be able to avoid unnecessary expenses. This includes being careful about where they buy and avoiding impulsive purchases.
The Initiative for Wise Spending
The Head of Bank Indonesia West Papua, Rommy Sariu Tamawiwy, stated that various parties support the advice for wise spending. These parties are The government of West Papua province, BI, the regional office of the Ministry of Religion in West Papua, the Indonesian Ulema Council of West Papua, Nahdatul Ulama of West Papua, as well as West Papua Muhammadiyah.
Rommy stated that cooperation among these parties rarely happens in this country. So, West Papua wants to start the initiative for wise spending. Besides, the religious leaders and government must start this habit as an example.
The branch of Bank Indonesia in West Papua conveys this good action during the launch of Happy Rupiah Ramadan and Blessing Eid al Fitr 2023. This agenda is held in Manokwari on the 27th of March, 2023.
Besides, Rommy also considered that the agreement and signing for this action will be effective in encouraging Papuans to adopt wise spending habits. So, other people can implement this good shopping behavior in order to prevent panic buying.
In addition, the head of the representative office of Bank Indonesia also advises that people must be wise to purchase everything based on their needs. So, they do not buy any goods that they wish. Wise spending habits will be beneficial for the public regardless of their social status.
Another important aspect of wise spending during Ramadan is to focus on the true meaning of the holy month. Ramadan is a time of reflection, prayer, and charity, and BI representatives are urging people to prioritize these aspects of the holy month over materialistic pursuits.
The Way to Control Inflation
Bank Indonesia representative, Rommy also explains that there are 4 strategies to control inflation. These strategies are:
- commodities availability
- price affordability
- the distribution of commodities
- effective communication among the stakeholders.
When the government implements these strategies, it will positively impact the community’s welfare. As a result, people can fulfill their daily needs.
Furthermore, Luksen Jems Mayor, the Head of the West Papua regional office Ministry of Religion, expects the joint call for wise spending to be implemented in all religious celebrations. This action will be able to maintain the price stability of the commodities.
Also, he agrees that Ramadan is not the time for excessive shopping. He believes that the action will be able to provide benefits for the communities. When the price is stable, they can easily afford their needs.
Luksen also states that the communities must start action to control the price and inflation. Then, involving religious leaders can be the key to the success of this positive movement. Hopefully, other governments and leaders throughout Indonesia can adopt the wise spending movement.
In short, BI representatives in West Papua are urging people to spend their money wisely during Ramadan. By being mindful of their budgets, people can avoid unnecessary expenses. When they are responsible for their finances, they can avoid financial hardship. Additionally, wise spending will be able to prevent inflation as well as price hikes.
