President Jokowi : Economic Reform Must be Carried on

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 20 April 2016
Category: News
Read: 10.861 Views
President Jokowi delivers a remarks at a meeting with International Finance Institutions, on Tuesday (19/4) morning, at the Grosvenor House Hotel, London, the United Kingdom

President Jokowi delivers a remarks at a meeting with International Finance Institutions, on Tuesday (19/4) morning, at the Grosvenor House Hotel, London, the United Kingdom

President Joko “Jokowi” Widodo on a meeting with International Finance Institutions held on Tuesday (19/4) morning local time, said that Indonesia is affected by the global economic downturn, just like any other countries. The economic downturn, the President added, affected export sector of many countries.

However, the President asserted that the economic downturn can become Indonesia’s opportunity to reform its economy instead.

“Many people agree with the reform, but more people refuse it. However, the Government has declared firmly that the reform must be carried out and will be carried on,” the President said.

President Jokowi said that the focus of the reform that Indonesia wants to stress are openness and competition.

“We must open up and should not be a closed country anymore. The competition will lead to an improved and better condition,” the President added.

The President took an example of the condition on aviation sector, in which there were only 3 airlines, but now there are 70 airlines that create tighter competition.

“The ticket is cheaper and people can have more flight options. During the tight competition, Garuda Indonesia almost went bankrupt twice,” the President said.

However, the President added, Garuda Indonesia survives and now become one of seven world’s best airlines and is rated as a 5-star airline.

This competition, the President added, also faced by banking sector as well as refueling station and cinema.

“We are now conducting deregulation and opening many sectors,” the President said.

Attending the meeting were Minister of Finance Bambang Brodjonegoro, Minister of Trade Thomas Lembong, Minister of Foreign Affairs Retno Marsudi, and Governor of Bank Indonesia Agus Martowardojo.

While from International Finance Institutions counterpart, the meeting was attended by Goldman Sachs, J.P. Morgan Asset Management, Ashmore Investment Management, F&C Asset Managers Limited, London Stock Exchange Group, and others. (UN) (RAS/MMB/YM/Naster)

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