Indonesia`s Economy Stronger Than Greece, says Expert


Monday, 06 July, 2015 | 13:30 WIB

TEMPO.CO, Jakarta – Indonesian economy is believed to be far better than that of Greek on crisis, especially on national debt ratio against GDP.

Economy expert from Gadjah Mada University, Tony Prasetiantono, said that Greece’s foreign debt reaches a massive amount of 360 billion euro, or around Rp 5,345 trillion. The nation’s debt ratio against GDP is over 100 percent, which is dangerous.

“Indonesia only has 25 percent of debt ratio against GDP,” said Tony. “In default context, we have nothing to worry.”

Moreover, Tony said that Indonesian economy is far better because national budget deficit is only at 2 percent.

Finance Minister spoke the same thing as he said that Greece covered up its national deficit through debt. As a result, debt ration against GDP is piking and tax collection becomes insignificant.

Bambang explained that Greece’s current state is similar to that in Indonesia during 1998 monetary crisis. During 1990-1997 period, Indonesia had been at its excellent economy pertumbuhan with 7 percent economic growth, before collapsing at minus 14 percent in 1998.

ALI HIDAYAT | MITRA TARIGAN | SINGGIH SOARES | TRI ARTINING | URSULA FLORENE

Source : http://en.tempo.co/read/news/2015/07/06/056681422/Indonesias-Economy-Stronger-Than-Greece-says-Expert

Comment :

This article is a short and useful for people who understand economics. Indeed, Indonesia is currently was wasfearful events of 1998 repeat itself. Moreover, Greece is experiencing these events at this time. But calm, Indonesia is better and stronger than in 1998. We wish Mr. Jokowi as president of Indonesia to take measures so that the monetary crisis in 1998 will never happen again.
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