Merkel Praises Indonesia for Efforts on Debt Reduction

11 July, 2012

German Chancellor Angela Merkel lauded Indonesia’s ability to slash its debt as she and President Susilo Bambang Yudhoyono signed in Jakarta on Tuesday the Jakarta Declaration aiming to boost comprehensive ties between the two countries.

After the signing ceremony, Merkel, who is visiting Southeast Asia for the first time, told a joint press conference that Indonesia was a success story of debt reduction, as it had managed to reduce its debt to 24 percent of gross domestic product from 80 percent in just several years.

“I think that’s an example of what can be achieved and what Europe has to achieve, especially given the fact that Indonesia was able to achieve this over a short time, in fact in a few years,” she said.

The Jakarta Declaration will enable the two countries to cooperate more closely in areas such as defense, trade, science and technology and the environment, both leaders agreed.

Last year, bilateral trade between the two countries rose by 7 percent to more than $7 billion. German officials estimated that figure could reach $15 billion by 2015.

“The Jakarta Declaration is very comprehensive, allowing both countries to do many things together in the future,” Yudhoyono said.

Merkel, the first German chancellor to visit Indonesia since 1995, said the agreement would boost bilateral cooperation and enable greater strategic cooperation. 

Earlier on Tuesday, Merkel visited the Protestant Immanuel Church as well as Istiqlal, the country’s biggest mosque.

“I believe that we can cooperate more closely in science and research, and the tsunami warning center is but one example of that,” she said.

 

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.
The United Nations Food and Agriculture Organization (FAO) has praised Indonesia for its role in fighting illegal, unreported, unregulated (IUU) fishing, the Indonesian Embassy in Rome said.
Indonesias real GDP growth is projected to increase from 5.2 percent this year to 5.3 percent in 2018, according to the World Banks June 2017 Indonesia Economic Quarterly.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu