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Indonesian president: financial turmoil can not be considered economic crisis |
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18:39, October 10, 2008 |
Indonesian President Susilo Bambang Yudhoyono said the present turmoil in the capital and financial markets cannot yet be considered as an economic crisis, according to Antara news agency.
People should not too hastily say Indonesia was now undergoing an economic crisis, the president was quoted by Antara news agency as saying here Friday.
Reiterating the 10 steps he had prescribed on Monday (October 6) to avoid the negative impact of the global financial crisis, the president called on market players to remain calm and rational while trying to find a way out from the problems Indonesia was facing as a consequence of the global crisis.
Yudhoyono also said the global capital market situation did have an impact but it did not reflect Indonesia's overall economic condition.
"We have sufficient funds from state institutions for creating job opportunities and speeding up infrastructure development across the country," he stressed.
He added that the real estate sector in any country would certainly be affected by the global financial crisis but the government and the business community should keep trying to move the sector forward in Indonesia.
Source: Xinhua
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