Minister of Finance Boediono has hinted that the Indonesian
Minister of Finance Boediono has hinted that the Indonesian
economy is heading for recovery, meaning that the country has
been freed from crisis.
Is the statement correct? Not completely.
Many people are still living under economic uncertainty and
unemployment is increasing. The Bali bombings have also
contributed to the national economic chaos.
Expectations that the national economic growth will hit below
4 percent this year may indicate that our economy is entering the
recovery phase. Previously, the government expected a higher
economic growth, but the facts regarding poor investments and
exports obviously made the government more realistic.
Foreign buyers have looked to other countries for the purchase
of several commodities, including textile and textile products,
electronic goods and shoes, as buyers are worried that Indonesia
would fail to meet delivery dates due to labor-related problems.
To speed up the recovery of the economy, the government must
first recover tourism. Tourism impacts many businesses. The Bali
bombings, for example, have practically destroyed the East Nusa
Tenggara textile business, which were usually marketed in Kuta,
the very spot devastated by the bombs.
-- Bisnis Indonesia, Jakarta
The holidays
The government has decided its national holidays in 2003 and
has also officially extended the Idul Fitri and Christmas
holidays of 2002.
The idea to extend the holidays was to help recover the
tourism industry in the wake of the Bali bombings. Given more
holidays, domestic tourists are expected to have more time to
visit tourist destinations. Although it is obvious that not all
civil servants can afford such excursions with their families,
more than two million civil servants affect the industry during
the holidays. Just this week, the hotel occupancy rate in Bali
has climbed back up to about 50 percent, whereas it was only
around 15 percent from mid-October to early November.
The new holidays also mean efficiency, as holidays inevitably
reduce the use of electricity and the telephone, and everything
related to operational costs, including meal and transportation
allowances.
Tragedy is sometimes a blessing in disguise, or so we regard
the government's holiday extensions after the Bali tragedy.
-- Warta Kota, Jakarta