Posted on 24 Apr 2012
Amid the decision from Standard & Poor’s to maintain Indonesia’s sovereign debt rating, Bank Indonesia insists the country’s economy is in the good shape.
The rating agency on Monday maintained its assessment of Indonesia’s sovereign debt at BB+, one step below investment grade, citing the government’s failure to reduce fuel subsidies as one of the aspects.
BI governor Darmin Nasution in his statement asserted that the nation’s macro-economy and financial system had been well-maintained, adding that the current economy structure allowing a speed increase of employment.
“I believe that our economy will grow even better,” he said as quoted by kompas.com.
He added Indonesia’s balance of payments had also been in healthy position, saying that the ratio of total external debt toward gross domestic product tended to descend, reaching 26.5 percent at the end of 2011.
However, Darmin admitted that there had been several structural problems that still need to be solved in line with market optimism about the economic outlook of Indonesia.
“We assure you that the nation’s economy is on the right track and we will grow better,” he said.
