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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
While facing challenges in terms of economic growth, the current administration remains as confident as ever, stating that Indonesia is still showing strong results for a number of key economic indicators including its development budget, foreign exchange reserves, trade volumes, and per capita income.
This was evident from the President’s annual message at the House of Representatives, a routine event held every year to celebrate Indonesia’s Independence Day. This year’s speech was delivered last Friday, 15 August, and marked the last annual message to be made by President Susilo Bambang Yudhoyono.
In his speech, the President claimed that the nation’s development budget has reached USD 1,842.5 trillion, the highest ever during the nation’s long history. This has also been followed by an improvement to foreign exchange reserves, which reached USD 110.5 billion, a little lower than the all time record of USD 124.6 billion in 2011.
In regard to trade volumes, the President highlighted that the current sluggishness in national export activities is currently one of the biggest challenges for the nation. Despite the current difficult circumstances, Indonesia’s trade volume reached the USD 400 billion level, again a record for the nation for the decade to date.
“The value of domestic and foreign investment over the last 10 years has reached IDR 2,296.6 trillion,” the President said.
A similar increasing trend also exists for per capita income. Over the past nine years, the nation’s per capita income has increased more than threefold from IDR 10.5 million in 2004 to approximately IDR 36.6 million in 2013.
“We should celebrate this achievement. In the midst of global economic turmoil and frequent crises, not many nations in the world are able to make such achievements,” said the President.
Separately, Agus Martowardojo, Governor of Bank Indonesia, emphasized the importance of the national trade balance and current account to improve foreign exchange reserves. Mr. Martowardojo also contended that if state income from oil production can be accelerated, it is possible to reach foreign exchange reserves of USD 124.6 billion as was the case in 2011.
“The improvement to the nation’s current account will surely strengthen foreign exchange reserves,” added Mr. Martowardojo.
Mr. Martowardojo also recommended the government improve the nation’s current account through the services and financial sectors. He believes that development of quality goods and services will increase export activities which should eventually be above import activities.
“If this can be realized, the economic level will develop naturally,” concluded Mr. Martowardojo.
(hot/kc)
Fathan Qorib, Robert Sidauruk
While facing challenges in terms of economic growth, the current administration remains as confident as ever, stating that Indonesia is still showing strong results for a number of key economic indicators including its development budget, foreign exchange reserves, trade volumes, and per capita income.
This was evident from the President’s annual message at the House of Representatives, a routine event held every year to celebrate Indonesia’s Independence Day. This year’s speech was delivered last Friday, 15 August, and marked the last annual message to be made by President Susilo Bambang Yudhoyono.
In his speech, the President claimed that the nation’s development budget has reached USD 1,842.5 trillion, the highest ever during the nation’s long history. This has also been followed by an improvement to foreign exchange reserves, which reached USD 110.5 billion, a little lower than the all time record of USD 124.6 billion in 2011.
In regard to trade volumes, the President highlighted that the current sluggishness in national export activities is currently one of the biggest challenges for the nation. Despite the current difficult circumstances, Indonesia’s trade volume reached the USD 400 billion level, again a record for the nation for the decade to date.
“The value of domestic and foreign investment over the last 10 years has reached IDR 2,296.6 trillion,” the President said.
A similar increasing trend also exists for per capita income. Over the past nine years, the nation’s per capita income has increased more than threefold from IDR 10.5 million in 2004 to approximately IDR 36.6 million in 2013.
“We should celebrate this achievement. In the midst of global economic turmoil and frequent crises, not many nations in the world are able to make such achievements,” said the President.
Separately, Agus Martowardojo, Governor of Bank Indonesia, emphasized the importance of the national trade balance and current account to improve foreign exchange reserves. Mr. Martowardojo also contended that if state income from oil production can be accelerated, it is possible to reach foreign exchange reserves of USD 124.6 billion as was the case in 2011.
“The improvement to the nation’s current account will surely strengthen foreign exchange reserves,” added Mr. Martowardojo.
Mr. Martowardojo also recommended the government improve the nation’s current account through the services and financial sectors. He believes that development of quality goods and services will increase export activities which should eventually be above import activities.
“If this can be realized, the economic level will develop naturally,” concluded Mr. Martowardojo.
(hot/kc)