VIVAnews - Economic analyst, also former Governor of Bank Indonesia, Adrianus Mooy, said the government was late in responding the crisis including in granting stimulation fund.
"Finance Minister said there is Rp 50 trillion (US$4.2 billion) from budget surplus. But the granted sum was only Rp 10.2 trillion (US$859.5 million). The remaining incentive is only tax cut," said Mooy on Monday, Feb 10.
The situation is a reflection of the global economic crisis, according to Secretary of Financial System Stabilization Committee, Raden Pardede. According to Pardede, crisis usually occurs in, and is experienced by, countries in a small scope. "As of the 1930s, this is the first time that many countries suffer the same crisis," said Pardede.
Despite the declining economy, said Pardede, it does not mean that economic recovery is impossible. He acknowledged that the economic resumption will be longer. "This is a matter of trust. This [situation] will recover in the next one to two years," he said.
According to Pardede, there is no trust between creditors and debtors, the public and state institutions, and one bank and another. "They do not have confidence in each other and they are reluctant to propose loans," he said.
Concerning the fund stimulation, Pardede said it was only a starting point. "Stimulation will not solve everything. It's like something that enables someone who fainted to regain consciousness," he said.
Translated by: Bonardo Maulana Wahono
KPK Fires 66 Employees Who Accepted Bribes from Inmates
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