Jakarta (Antara Bali) - Finance Minister Bambang Brodjonegoro said he was concerned with global economic uncertainty more than economic slowdown.
"Is there global economic slowdown?, Yes, there is but for me it is not the one that make me worry. What that need our attention is global economic uncertainty that would weigh on many countries including Indonesia, " the minister said here on Thursday.
He said the government and the business community should be responsive to dynamic global economic condition.
"Who had expected China to devalue its yuan," he said.
He said the economic condition at present is not the same as it was in 1998 when regional monetary crisis drove the country to the brink of economic bankruptcy.
Currently the country had made progress in narrowing its current account deficit and inflation is well under control, he said.
"In 1998,we failed to maintain macro economic stability as we were carried away by high growth . Now we closely maintain stability," he said.
In the banking sector, capital adequacy ratio was more than 20 percent and non performing loan at 2.5 percent.
"LDR (loan to deposit ratio) also has been reduced from 92 percent to 85 percent giving stronger liquidity. What we have not seen is investment by the business people. I think they chose to wait and see as they are still worried by the trend in the financial market," he said. (WDY)
COPYRIGHT © ANTARA News Bali 2015
"Is there global economic slowdown?, Yes, there is but for me it is not the one that make me worry. What that need our attention is global economic uncertainty that would weigh on many countries including Indonesia, " the minister said here on Thursday.
He said the government and the business community should be responsive to dynamic global economic condition.
"Who had expected China to devalue its yuan," he said.
He said the economic condition at present is not the same as it was in 1998 when regional monetary crisis drove the country to the brink of economic bankruptcy.
Currently the country had made progress in narrowing its current account deficit and inflation is well under control, he said.
"In 1998,we failed to maintain macro economic stability as we were carried away by high growth . Now we closely maintain stability," he said.
In the banking sector, capital adequacy ratio was more than 20 percent and non performing loan at 2.5 percent.
"LDR (loan to deposit ratio) also has been reduced from 92 percent to 85 percent giving stronger liquidity. What we have not seen is investment by the business people. I think they chose to wait and see as they are still worried by the trend in the financial market," he said. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2015