Fri, 29 May 2009
Jakarta (ANTARA News) - Finance Minister Sri Mulyani Indrawati said here on Thursday the current economic recovery was still in an early stage and fragile.

"The recovery is still in an early and fragile stage." she said at a meeting with House Commission XI.

She said the global financial crisis had made the country`s economy to slow down.
"Its hardest impact was felt from September to the end of 2008. From January to March 2009 its impact was still felt a little. From March 2009 there had been some recovery," she said.

She said the country`s economy grew 4.37 percent in the first quarter of 2009 thanks largely to domestic consumption.

"Indeed investment and exports are still low. It is a challenge for us to revive exports to grow," she said.

The minister called for safeguarding various positive sentiments to assure continuation of positive momentum for the economy to second up to fourth quarter of 2009.

She referred to conditions such as inflow of capital to Indonesia that reached around US%1.79 billion in the first quarter of 2009 after an outflow of capital of up to US$885 million in the third quarter of 2008 and US$677 million in the fourth quarter of 2008.

"The condition increased foreign exhange reserves and improved the price of state bonds and strengthened the exchange rate of the country`s currency," she said.(*)



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