REPUBLIKA.CO.ID, JAKARTA -- Indonesian Finance Minister Chatib Basri said there was no reason to believe that Indonesia is having an economic crisis.
"There is no reason to say that Indonesia is entering a crisis. There is also nothing such as a mini-crisis for Indonesia. Now, the country's economic conditions have become stable," he said after speaking at the "Mandiri Investment Forum 2013" here on Monday.
He added that all indicators, including data issued by foreign economic institutions, have shown that Indonesia's economic conditions remain positive.
"The rupiah exchange rate has now remained stable after dropping in September," he said.
Chatib noted that he was also convinced that the economy would become more stable and Indonesia would be able to overcome a future crisis due to the government's plan to simplify investment rules.
"Right now, the government is compiling a revision of the list of negative investment areas, which is expected to be able to increase investment and reduce repatriation of capital so that a positive impact would not only be felt in 2013, but also in the years to come, he said.
He added that the World Bank has also raised the country's rank from 128 to 120 in its ease of doing business index.
"In terms of business competitiveness, Indonesia's ranking has also jumped from 50th to 32nd in the world," he added.
Several quarters had earlier said that Indonesia's economy was suffering from a mini-crisis as its growth had dropped to below six percent.
The Mandiri Investment Forum 2013, which was organized by state-owned Bank Mandiri in cooperation with Mandiri Sekuritas and Goldman Sachs, brought together some 400 investors from home and abroad to boost investment in the country.
Speakers at the forum, held under the theme "Indonesia: Preparing for the New Era" included Nouriel Roubini, an economics professor from New York University; Finance Minister Chatib Basri; Trade Minister Gita Wirjawan; State Enterprises Minister Dahlan Iskan; the chairman of the Financial Service Authority, Muliaman Hadad; Jakarta governor Joko Widodo; and Bank Indonesia senior deputy governor Mirza Adityaswara.
Speakers from the business community included Mayora Commissioner Hermawan Lesmana; President Director of state electricity company PT PLN Nur Pamudji; President Director of PT Taspen Iqbal Latanro; President Director of Indonesia Infrastructure Finance Kartika Wirjoatmodjo; President Director of Pelindo II, R.J. Lino; and Astra Sedaya Finance CFO Hugeng Gozali.
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