Government to not fully hand over economic system to market

The government has chosen "the third way" that neither uses market fundamentalism nor a tight economic system in controlling the market.
Jakarta (ANTARA News) - The government will not fully hand over the economic system to the market mechanism because Indonesia has chosen "the third way" for its economy, President Susilo Bambang Yudhoyono stated here on Wednesday.

"The government should neither take its hand off from the economic system nor entirely hand it over to the market mechanism," President Yudhoyono noted during his opening remarks at the National Coordination Meeting of the Regional Inflation Control Team.

According to the head of state, the government has chosen "the third way" that neither uses market fundamentalism nor a tight economic system in controlling the market.

The president remarked that the market requires precise government control and role, particularly in controlling inflation because price stability is one of the pillars of macro economy.

"In short, the inflation control team should work hard and not be apathetic," he reiterated. (*)

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