ID :
17817
Tue, 09/02/2008 - 18:54
Auther :
Shortlink :
http://m.oananews.org//node/17817
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CHIEF ECONOMIC MINISTER: RI'S TRADE BALANCE IN SAFE POSITION
Jakarta, Sept 2 (ANTARA) - Indonesia's trade balance is in a safe position although the Central Bureau of Statistics (BPS) reported a deficit for the first time, a senior minister said.
"Our trade balance is safe although its composition has changed as a consequence of sustainable economic growth," Finance Minister/Coordinating Minister for Economy Sri Mulyani Indrawati said after opening a coordination meeting of the Team for Optimizing State Income here Tuesday.
The minister said the trend in the country's economic growth was currently still strong and supported by capital goods, raw materials and consumption goods as its components.
"We observe the trend of imports has drastically increased in the past half year," she said.
Indonesia's balance of payments which is managed by Bank Indonesia (the central bank) should indeed be managed prudently, she said.
"It means that our export potentials must be spurred further while imports earmarked for production are inevitable and positively correlated to the total macro economic performance," she said.
She said efforts to maintain the balance of payments comprehensively would be related to the ability of creating a good economic environment so as to make the incoming capital both in the forms of portfolio and foreign direct investment run well.
Limitation of consumption could only be done under the prevailing rules which have been agreed on like those in the contexts of AFTA, ASEAN etc. as changes cannot be made any time from tariffs or non-tariff policies like setting up quotas except for urgent matters which should be consulted with the trade minister on the compliance with international.
BPS had earlier reported that for the first time Indonesia's balance of trade underwent a deficit of US$270 million.
"It is the first time for the trade balance to suffer a deficit as the export value is smaller than the import value. In 2008, our exports were valued at US$12.55 billion and imports at US$12,8 billion," BPS Chairman Rusman Heriawan said.
"Our trade balance is safe although its composition has changed as a consequence of sustainable economic growth," Finance Minister/Coordinating Minister for Economy Sri Mulyani Indrawati said after opening a coordination meeting of the Team for Optimizing State Income here Tuesday.
The minister said the trend in the country's economic growth was currently still strong and supported by capital goods, raw materials and consumption goods as its components.
"We observe the trend of imports has drastically increased in the past half year," she said.
Indonesia's balance of payments which is managed by Bank Indonesia (the central bank) should indeed be managed prudently, she said.
"It means that our export potentials must be spurred further while imports earmarked for production are inevitable and positively correlated to the total macro economic performance," she said.
She said efforts to maintain the balance of payments comprehensively would be related to the ability of creating a good economic environment so as to make the incoming capital both in the forms of portfolio and foreign direct investment run well.
Limitation of consumption could only be done under the prevailing rules which have been agreed on like those in the contexts of AFTA, ASEAN etc. as changes cannot be made any time from tariffs or non-tariff policies like setting up quotas except for urgent matters which should be consulted with the trade minister on the compliance with international.
BPS had earlier reported that for the first time Indonesia's balance of trade underwent a deficit of US$270 million.
"It is the first time for the trade balance to suffer a deficit as the export value is smaller than the import value. In 2008, our exports were valued at US$12.55 billion and imports at US$12,8 billion," BPS Chairman Rusman Heriawan said.
