President: INDONESIA HAS BECPME 16TH STRONGEST ECONOMY OF THE WORLD

President Susilo Bambang Yudhoyono stated that today Indonesia had become the 16^th world’s strongest economy, which put the nation in the position of respected member of the G-20 group, the elite group of world’s economic leaders. “Today our nation is forging ahead as an emerging economy, and has become the world’s 16^th most powerful economy. We are emerging to become a middle income country with poverty and unemployment figure being regularly reduced. We must be confident and rest assured that soon, God willing, we would become a strong and advanced country in Asia which the world do not underestimate” this was stressed by President Susilo Bambang Yudhoyono in his Annual Raport and independence day speech at the House of Representatives (DPR) and People’s Consultative Assembly (MPR) on Thursday (16/8).

However, to meet such objectives Indonesia would have to keep watch on the effects of financial crisis in Europe. It was necessary for Indonesia to learn a lesson from the crisis in Europe by anticipating crisis through fiscal management based on the principles of prudence. In this case the Government had, and would always will, take the right and strategic step.

Indonesia, according to President SBY, had a valuable experience in navigating the nation through the stormy crisis of 2008. According to the President, success was determined by collaboration and synergy between the Central Government, the regional Government, the businessworld, financial institutions and other bodies, so the real sector could run as normally. In this case the Government injected stimulus the prudent way and tried to control the situation to prevent the outburst of unemployment. The Government was also taking measures to protect, assist, and enlighten people’s burdens of life especially those of the lower middle strata who were having economic problem. By such combined steps, the domestic economy would be sound and stable, no explosion of unemployment would occur, inflation would be under control and other economic indicators would spark positive sings.

Based on the above, the President was determined that by 2045 or exactly the 100^th anniversary, Indonesia would have a strong and just economy.

“In this 21^st century, our big mission is to continue the process of nation building toward an advanced and prosperous Indonesia. We are determined that by 2045 exactly 100 years of independence, Indonesia would build a strong and just economy; stable and virtuous democracy and an advanced and superior civilization” the President said.

In the next five years Indonesia kept development into a prosperous, democratic and just nation. The Indonesian people were developing the nation in a dynamic global environment. “The environment offers and opportunity and at the same time a challenge. An environment that demand us to participate in the endeavors to create peace, justice and prosperity of the world as written in our constitution” the President underscored. 

Business News - August 24, 2012