Govt Adopts Policies to Anticipate Crisis

13 December, 2011 | Source: ANTARA News

Nusa Dua, Bali (ANTARA News) - The government has taken a number of policies to anticipate the impact of global economic crisis, Coordinating Minister for Economic Affairs Hatta Rajasa said.

 

"The policies were taken particularly to anticipate a decline in our exports as a result of economic crisis engulfing Europe and the United States," he said after opening an investment climate symposium here on Monday.

The anticipatory steps included expanding the market for Indonesia`s exports, preventing massive layoffs and improving the people`s purchasing power, he said.

He said the government was ready to face the impact of the global economic crisis and convinced that the country would be able to withstand the crisis as it did in 2008.

"This is because the amount of our foreign exchange reserves now is higher than in 2008," he said.

Even the minister predicted the domestic economy to grow within the range of 6.6-6.7 percent next year.

After all, the government still had to keep watch for developments in global oil price which could affect state spending on fuel oil subsidies, he said.

"There is not yet plan to raise fuel oil price. It is the basic electricity tariff that will be raised," he said.

Hatta said the basic electricity tariff was likely to be raised by around 10 percent in April next year.(*

 

The Asian Development Bank (ADB) has projected that Indonesias economic growth will continue to strengthen and be resilient to global uncertainties in 2017 and 2018.
The governments of the United States (US), Australia, and Sweden have lauded the Indonesian governments diplomatic steps to provide humanitarian assistance to communities in Rakhine State, Myanmar.
President Joko Widodo (Jokowi) said Indonesia already enters years of low inflation, with inflation around 3 percent in the past two years.
President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
President Joko Widodo (Jokowi) plans to visit Turkey to develop partnership in strategic industry and economy with the country, Foreign minister Retno Marsudi said here on Monday at the state palace after a meeting prior to the presidents visit to Turkey and Germany.
Indonesian Foreign Minister Retno Marsudi and her Maldivian counterpart Mohamed Asim will hold a bilateral meeting in Jakarta on Wednesday (June 21) to discuss the cooperation in tourism sector.
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