RI Economy Less Prone to Crisis than China: Gita

25 Oktober, 2011 | Source: The Jakarta Post

Trade Minister Gita Wirjawan said that the structure of Indonesia’s economy is different from China’s and is less vulnerable to fallout from the current economic crisis in Europe and the US.

“Our economic structure is quite different from China’s. China’s economy is export-based, contributing to around 60-70 percent of its gross domestic product. On the other hand, our economy is based on domestic consumption,” he said Monday following a lecture by American economist Prof Nouriel Roubini in Jakarta, as quoted by kompas.com.

Roubini explained during his lecture that Indonesia’s orientation toward domestic consumption would fare well against the impacts of the present global economic crisis.

Gita said that the government would strive to strengthen the domestic market while also attempting to promote exports.

 

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