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|Date: 18 August 2009|
|Jakarta - Indonesia should in the future rely on its own domestic economic strength , Finance Minister Sri Mulyani Indrawati said here on Friday.|
|"As a country with a big population and vast territory , Indonesia`s economic development should be supported more and more by domestic power," Sri Mulyani said after attending a House of Representatives plenary session for President Susilo Bambang Yudhoyono to deliver his state-of-the-nation address on the occasion of the nation`s 64th independence anniversary at the legislative building here.|
According to Sri Mulyani, Indonesia`s domestic economic power had proven able to withstand the on-going global financial crisis. The finance minister said amid the present global financial crisis, she had made every possible effort to overcome the problem through the government`s better regulation and capacity.
In addition, she said recently that to avoid future economic crises information transparency among business makers should be improved.
"The present crisis was caused by a correction to information transparency in the G-20 meeting recently and the failure in information openness," the finance minister said at a function to present Annual Report Awards (ARA) 2008 on Wednesday night.
Sri Mulyani said that following the failure in information openness among global economic players, the world information transparency should be improved.
"Information transparency among global business players cannot come by itself and therefore it should be developed together," Sri Mulyani said.
She pointed out that the economic crisis in Indonesia in 1997/1998 was triggered by the weaknesses in the information transparency from the business makers because the information they made at the time was not in accordance with existing reality.
Meanwhile, Indonesian Chamber of Commerce and Industry (Kadin) chairman MS Hidayat said that when the global financial crisis occurred, Indonesia was in fact able to withstand it rather than the countries such as Singapore and Malaysia which relied on their export.
"Indonesia is able to withstand the crisis because the level of its export it not high enough," Hidayat said.
But he added that Indonesia`s economic self-reliance did not mean that it should ignore the global power. (ANTARA)