Speaking at his office here Friday, he said the current crisis was different from three years ago when it originated in the private sector in the US.
"This time the trouble lies with states, namely the US and several countries in Europe. So, the economic crisis will also have political implications", he said when leading a limited cabinet meeting on the current global economic conditions.
He said Indonesia must be prepared in case the impact of the current crisis would be bigger and deeper than three years ago.
But he also said he believed that whatever would happen globally, Indonesia would be able to be overcome the problems with correct adjustments and measures.
"I still have strong optimism that we can manage it well," he said referring to the country`s success in overcoming the impact of the global economic crisis three years ago.
The general chairman of the Association of Indonesian Employers (Apindo), Sofjan Wanandi, said after a dialog between Apindo and the government early this week the business community was already feeling a shrinking of the market due to declining exports.
The business community believed the current financial crisis engulfing European countries and the US could be worse than that in 2008-2009.
Sofjan said the impact of the current crisis could be worse because it had caused some countries such as Greece to go bankrupt. He said the crisis did not only affect companies that could be helped with loans or taken over by the state.
The impact of the crisis has already affected the country as shown by a sharp depreciation of the rupiah against the US dollar. The rupiah plunged to the Rp9,000 level against the greenback before the central bank intervened.
Sofjan said one of the ways to overcome the impact of the crisis was moving and controlling the domestic economy through investment and business expansion.
Businessmen at the dialog expressed readiness to discuss measures needed to anticipate the impact of the crisis with the government.
(T.G003*F008/H-YH/HAJM/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2011
