ID :
26902
Mon, 10/27/2008 - 19:20
Auther :
Shortlink :
http://m.oananews.org//node/26902
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RUPIAH`S DEPRECIATION CAUSED BY GLOBAL SENTIMENTS : FINANCE MINISTRY
Jakarta, Oct 27 (ANTARA) - A senior finance ministry official said here on Monday the current depreciation of the rupiah was caused more by global sentiment rather than domestic factors.
"Fundamentally, we are still strong. Our economy still grows at above six percent and our foreign exchange reserves also are still strong. Our banks are also healthy. So fundamentally, there is nothing to worry about. There is no significant change," the head of the finance ministry's fiscal policies, Anggito Abimanyu, said here Monday.
He made the remarks after attending a meeting between Energy and Mineral Resources Minister Purnomo Yusgiantoro and the House of Representatives (DPR)'a Commission VII to discuss a possible fuel oil price reduction.
He said the depreciation of the national currency was not only happening in Indonesia but also in the region because of global sentiments.
"The impact of the global sentiments cannot be overcome individually by each country and therefore the issue was discussed at the Asia-Europe meeting (Asem) and the ASEAN plus three meeting recently as well as in other regional and international forums," he said.
Abimanyu said Indonesia was currently focussing on settling the global sentiment through the ASEAN plus three and the G-20 forums because "we cannot work by ourselves. All countries are experiencing correction. Their currencies are depreciating."
He said the government believed Bank Indonesia (the central bank) would be able to maintain the new equilibrium so that the depreciation of the country's currency would not threaten the national economy.
On incentives for the real sector, he said discussions on the matter had been held but their results could not as yet be made known now.
"We will make them known in the near future. They will consist of fiscal and non-fiscal incentives as well as foreign exchange management measures," he said.
"Fundamentally, we are still strong. Our economy still grows at above six percent and our foreign exchange reserves also are still strong. Our banks are also healthy. So fundamentally, there is nothing to worry about. There is no significant change," the head of the finance ministry's fiscal policies, Anggito Abimanyu, said here Monday.
He made the remarks after attending a meeting between Energy and Mineral Resources Minister Purnomo Yusgiantoro and the House of Representatives (DPR)'a Commission VII to discuss a possible fuel oil price reduction.
He said the depreciation of the national currency was not only happening in Indonesia but also in the region because of global sentiments.
"The impact of the global sentiments cannot be overcome individually by each country and therefore the issue was discussed at the Asia-Europe meeting (Asem) and the ASEAN plus three meeting recently as well as in other regional and international forums," he said.
Abimanyu said Indonesia was currently focussing on settling the global sentiment through the ASEAN plus three and the G-20 forums because "we cannot work by ourselves. All countries are experiencing correction. Their currencies are depreciating."
He said the government believed Bank Indonesia (the central bank) would be able to maintain the new equilibrium so that the depreciation of the country's currency would not threaten the national economy.
On incentives for the real sector, he said discussions on the matter had been held but their results could not as yet be made known now.
"We will make them known in the near future. They will consist of fiscal and non-fiscal incentives as well as foreign exchange management measures," he said.
