Monday, June 13, 2011
SBY: Indonesia Will Be in the Top 10
Source: TEMPO Interactive
MUNAWWAROH | EKA UTAMI APRILIA
TEMPO Interactive, Jakarta: President Susilo Bambang Yudhoyono said Indonesia will be in the top ten countries with the strongest economy within the next decade. "Our GDP is almost Rp1 trillion. We have a balanced budget thanks to wise fiscal measures. The debt ratio to the GDP is 26 percent, the lowest in history," said Yudhoyono at the World Economic Forum on East Asia, at the Shangri-La Hotel in Jakarta yesterday.
Trade volume and foreign exchange reserves have hit the highest record and foreign investments have sharply increased. However, he noted that poverty, injustice, infrastructure, corruption and bureaucratic inefficiency were issues the country needed to work on.
Indonesia's rating in the global competition index continues to hike. In 2010 - 2011, Indonesia was ranked 44th out of 139 countries. The year before, it was in the 55th place.
World Economic Forum's economist Thierry Geiger, last week said economic growth was impeded by a lack in infrastructure, health facilities, corruption and human resources.
At the event, McKinsey & Company executive director, Dominic Barton, said that unemployment could be tackled by facilitating business permits, similar to measures implemented by Singapore and China.