President Yudhoyono assures controlling prices of goods in Ramadhan

Jakarta (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono assured that his government will control the prices of essential goods during the fasting month of Ramadhan and ahead of Idul Fitri to prevent financial losses to the public.

"We will ensure well-organized price stabilization, especially the prices of essential goods during Ramadhan and ahead of Idul Fitri day, since there are seasonal price hikes of some goods that we should control," Yudhoyono stated during a cabinet meeting of economy at the Presidential office here on Monday.

President Yudhoyono noted that the market response during Ramadhan and other national days, such as Idul Fitri, was a frequent anomaly, hence the governments intervention and control was a must.

In the meeting, Yudhoyono also called on his economic ministers to pay greater attention to the rupiah currency and tackle the impact of the global economy on the Indonesian economy.

"Besides fiscal and price stability, we have to manage the global economys impact on our economy, either currency or international trade, and so on. Despite the escalated political situation ahead of the presidential election, the government must continue to focus on managing the economy," he stressed.

The cabinet meeting that commenced at 10.30 a.m. local time was attended by Vice President Boediono, Coordinating Minister of Economy Chairul Tanjung, Coordinating Minister of Peoples Welfare Agung Laksono, Coordinating Minister of Politic Law and Defense Djoko Suyanto, and Indonesian Polices Chief General Sutarman.