RI govt prepares stimulus package to address global crisis

RI govt prepares stimulus package to address global crisis

Agus Martowardojo. (ANTARA/Andika Wahyu)

Jakarta (ANTARA News) - The Indonesian government has prepared a draft stimulus package as part of efforts to anticipate the impact of global crisis expected to continue until early 2012, Finance Minister Agus Martowardojo said.

"In response to what is happening in Europe today we have thought of a stimulus package expected to be introduced in the first semester of 2012," he said at a working meeting with the House of Representatives (DPR) Commission XI here on Thursday.

The stimulus package would function as a means to anticipate a possible impact of the global crisis on the Indonesian economy as a whole, he said.

"We are of the view if what is happening in Europe is to continue it will most likely affect our trade partners or countries investing in Indonesia," he said.

Meanwhile, Bambang Brodjonegoro, acting chief of the finance ministry`s fiscal policy board, said the current global economic condition had the potential to get worse than the 2008 financial crisis that engulfed most part of the world.

According to him, the current global crisis did not directly affect Indonesia but its trade partners.

"The current crisis may deal a heavier blow compared with 2008 although Indonesia and other emerging countries have better economic conditions than developed nations," he said.

He said the government was still studying a plan for stimulus package and therefore, the model and type of the stimulus package had not yet been decided.

Neither did he mention how much the stimulus package would cost.

The stimulus package would not be much different from the similar package introduced in 2008 when the financial crisis affected most part of the world, he said.

He ensured that the stimulus package would have a direct impact on the national economic growth and stability.