Indonesia's ailing economy

Indonesia's ailing economy

The Indonesian economy at present is seriously ailing, which
can be seen from the high inflation rate and the US$7.9 billion
current account deficit in the balance of payments. What causes
this condition is, at present, the subject of much public debate.
It has been discussed in a national working conference of the
Indonesian Chamber of Commerce and Industry (Kadin) after it was
disclosed by the chairman of the National Development Planning
Agency, Ginanjar Kartasismita, that "viruses" were plaguing the
national economy.

The viruses which Ginanjar spoke about represent perhaps the
various causes of the present high inflation rate and the current
account deficit, including the high-cost economy. This newspaper
assumes the government has already made an inventory of the
various viruses upsetting the national economy, because
complaints have repeatedly been raised by economic observers as
well as by banking circles.

The government has in fact already come up with various
answers in the form of deregulation and debureaucratization
packages, although with little effect.

This newspaper is optimistic -- provided that our high
institutions of state are consistent in their efforts to uphold
existing laws and regulations -- that those annoying viruses will
eventually be wiped out because their strains are already known.

-- Sinar Pagi, Jakarta