Indonesia is Considered a Good Financial Management

10 November, 2011 | Source: ANTARA News

Cannes, France (AFP) - Indonesia is considered as a good-financial-management country which is able to minimize the impact of global financial crisis towards its domestic financial conditions by maintaining the ratio of debt to GDP as well as securing the amount of the budget deficit in a safe level, for instance.

- Unofficial Translation -

 

Finance Minister Agus Martowardojo in a press conference on the sidelines of the G-20 summit in Cannes France, Wednesday (2 / 11) evening local time Thursday (3 / 11) at 3:30 pm said that the view is listed in the communiqué draft and G-20 action plan that became the basis of the declaration to be issued at the end of the summit after being discussed by the leaders of the G-20.

"If the communiqué and action plan released, the observations from 20 countries can be reflected on it, there are six countries that have strong financial condition specifically
Indonesia, Germany, Australia, Canada, China and Japan. Indonesia is considered financially healthy," said Martowardojo .

In the early discussions before the G-20 summit, for instance, in a meeting of finance ministers of G-20, Martowardojo said that the countries which are assessed as financially strong are expected not to overdo their fiscal consolidation they should be giving stimulus in various forms to the region or other country, if possible.

"Therefore we have prepared ourselves. Based on our experience in 2008-2009, we maintain our economic expansion with expansion. This can only done by empowering and stimulating the role of private sectors," he explained.

Martowardojo explained in 2011,
Indonesia has set its National Budget Plan that encourages the stimulus, in 2012 it will be approve and if necessary there will be revisions towards the current national budget with additional programs supported by the stimulus package.


"The fiscal consolidation done by
Indonesia is firstly meant to maintain the deficit and the debt ratio in a safe level. Secondly, it is among others to support structural reform, improve in the areas of employment, and set regular security social reform. Indonesia has given a good emphasis on it, "said the minister.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
President Joko Widodo recently signed a regulation specifying the procurement and immunization schedule for the COVID-19 vaccine for Indonesia, which has been battling the deadly disease since March 2 this year.
President Joko Widodo on Wednesday said the coronavirus pandemic has reminded the nation and the state of the importance of science and technology.
Indonesian Foreign Affairs Minister Retno Marsudi offered her condolences and sympathies to the families of the victims of the explosion that rocked Beirut in Lebanon on Tuesday evening.
Indonesia is working with South Korea to develop a vaccine for the novel coronavirus disease, in addition to collaborating with China.
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