President Yudhoyono presents economic achievements during his government

President Yudhoyono presents economic achievements during his government

President Susilo Bambang Yudhoyono. (ANTARA/Prasetyo Utomo)

We must be grateful and thankful that a lot has already been accomplished although some are yet to be achieved."
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono (SBY) presented various economic achievements made from 2004-2014 at a meeting with regional heads of government here on Wednesday.

"We must be grateful and thankful that a lot has already been accomplished although some are yet to be achieved," he explained.

He added that the economic conditions, when he started his first term in 2004, were still marked by low GDP and a significant shortage of infrastructure.

Process of economic consolidation then began and social and security conditions became more stable after peaceful and democratic elections, he alleged.

The salaries of state employees were still low while the budget for health was still limited, he added.

In the next 10 years the country still posed various challenges from tsunami disaster, oil crisis, economic crisis, terrorism and bird flu outbreak.

Until this year, he indicated that the GDP and foreign exchange reserves have been increased significantly and the debt ratio to the GDP could be lowered from 56 percent to 23 percent.

President SBY added that the 23 percent debt ratio to GDP was far below recorded in developed countries such as Germany (86.1 percent), the US (104.1 percent), and Britain (107 percent).

He stated that during the period 2004-2014, the countrys domestic and foreign debts could also be reduced while the national budget had increased four folds.

In 2004, the countrys income per capita was recorded at US$1188 but ten years later it rose to US$3490.

"If the rupiah exchange rate against the US dollar is still Rp9 thousand, our income per capita could surpass US$4 thousand," he asserted.

Indonesia has also been recorded as a country with the second highest economic growth rate since 2009 after China with the countrys exports increasing three folds.

In the energy sector, President SBY admitted that although electricity capacity has been increased twice during his government it is still short.

President Yudhoyono pointed out that the Master Plan for the Acceleration of Indonesian Economic Development (MP3EI) is a big plan and from 2011 to 2013, its projects have reached Rp828.7 trillion in value.

The annual National Development Planning meeting with regional heads of government this time would be the last for President Yudhoyono as he would end his second term in October this year following the presidential election scheduled on July 9.

(Reporting by Muhammad Razi Rahman/T.M040/Uu.H-YH/INE/KR-BSR/F001)

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