Indonesia has managed to cope with the deteriorating impacts of global economic crisis not because of the country’s strong economic structure, but rather due to "luck", economist Faisal Basri said Wednesday.
He was speaking at the launch of his book titled "Lanskap Ekonomi Indonesia" (Indonesian Economic Landscape).
"We survive the crisis not because our [economic] structure is strong, but just luck,” Faisal said. "Our banks don't have subprime mortgage. Our exports are not yet competitive, their portion [in our economy] is small."
He added that Indonesia was seen as having high positive growth so far this year as other countries had their economies plunge deeply.
To improve Indonesia's economy, Faisal suggested the government focus on the real and tradable sector, because the economy was now more supported by services, instead of goods.
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