ID :
22975
Tue, 10/07/2008 - 08:44
Auther :
Shortlink :
http://m.oananews.org//node/22975
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PRESIDENT: 1998 CRISIS MUST NOT RECUR
Jakarta, Oct 7 (ANTARA) - President Susilo Bambang Yudhoyono said here on Monday he believed the economic crisis that hit the country back in 1998 should not recur following the current global economic crisis in the United States with impacts to its neighboring countries.
"I have to say firmly and clearly that God willing there will be no crisis like the one we experienced ten years ago," he said at a meeting with central bank officials, business leaders, economic observers and mass media figures at the State Secretariate Building.
On the occasion President Yudhoyono explained the difference in the fundamental conditions prevailing in 1998 and this year's.
He said 1998 was marked with a political transition and also mismanagment problems that caused distrust and eventually a panic.
"I had to say that in order to make us more peaceful, think more clearly and making rational decisions, formulating policies and actions," he said.
He also believed there were now no more factors like the ones that had created the economic crisis in 1997 such as inconsistent policies and public distrust.
He also believed that policies, priorities as well as economic trends in Indonesia were already on the right track, proven by increasing per capita income and decreasing debt ratio to gross domestic product.
He said the economy had also grown within a six percent range in the past seven quarters.
"Based on all that I could say that this would not be as bad as in 1998. However we must not underestimate or be careless. We must be alert and together manage it," he said.
After central bank governor Boediono and finance minister Sri Mulyani explained the global economic crisis and its possible impact on Indonesia, the president gave a ten-point directive to deal with the challenge.
He said Indonesia must not neglect the momentum of economic growth that had been developed with great difficulties after the economic crisis ten years ago.
He said the domestic market must not be ignored, and for extensifying consumption to move domestic economy.
He reminded that it was the small-and medium-sized businesses and agriculture that had become the safety belt for the country during the crisis in 1998.
In view of that he called on the business community to make the real sector to remain moving although expansion would likely drop next year.
"Let us exploit our domestic economy. We must develop and expand our domestic market," he said.
The president also appealed to the people to increase the use of domestic products to reduce pressure on the government's balance of payments.
He said he planned to order all government agencies to prioritize domestic products in procuring goods and services and give incentives and disincentives for it.
He said he would also order government agencies to reduce consumer goods spending and use their budget for productive purchases aimed at stimulating growth.
President Yudhoyono also reminded that 2008 and 2009 was a political period ahead of the general elections. In view of that he called on all parties not to play partisan politics but put the interest of the people above all others.
He said the current global crisis would indeed have an impact on the country. However he called on the people not to panic but respond to it posiively and optimistically
"I have to say firmly and clearly that God willing there will be no crisis like the one we experienced ten years ago," he said at a meeting with central bank officials, business leaders, economic observers and mass media figures at the State Secretariate Building.
On the occasion President Yudhoyono explained the difference in the fundamental conditions prevailing in 1998 and this year's.
He said 1998 was marked with a political transition and also mismanagment problems that caused distrust and eventually a panic.
"I had to say that in order to make us more peaceful, think more clearly and making rational decisions, formulating policies and actions," he said.
He also believed there were now no more factors like the ones that had created the economic crisis in 1997 such as inconsistent policies and public distrust.
He also believed that policies, priorities as well as economic trends in Indonesia were already on the right track, proven by increasing per capita income and decreasing debt ratio to gross domestic product.
He said the economy had also grown within a six percent range in the past seven quarters.
"Based on all that I could say that this would not be as bad as in 1998. However we must not underestimate or be careless. We must be alert and together manage it," he said.
After central bank governor Boediono and finance minister Sri Mulyani explained the global economic crisis and its possible impact on Indonesia, the president gave a ten-point directive to deal with the challenge.
He said Indonesia must not neglect the momentum of economic growth that had been developed with great difficulties after the economic crisis ten years ago.
He said the domestic market must not be ignored, and for extensifying consumption to move domestic economy.
He reminded that it was the small-and medium-sized businesses and agriculture that had become the safety belt for the country during the crisis in 1998.
In view of that he called on the business community to make the real sector to remain moving although expansion would likely drop next year.
"Let us exploit our domestic economy. We must develop and expand our domestic market," he said.
The president also appealed to the people to increase the use of domestic products to reduce pressure on the government's balance of payments.
He said he planned to order all government agencies to prioritize domestic products in procuring goods and services and give incentives and disincentives for it.
He said he would also order government agencies to reduce consumer goods spending and use their budget for productive purchases aimed at stimulating growth.
President Yudhoyono also reminded that 2008 and 2009 was a political period ahead of the general elections. In view of that he called on all parties not to play partisan politics but put the interest of the people above all others.
He said the current global crisis would indeed have an impact on the country. However he called on the people not to panic but respond to it posiively and optimistically
