Govt`s policies to face past crisis correct : president

Antara News, Monday, January 4, 2010 20:18 WIB | Economic & Business

Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said the government had pursued correct policies in the economic field in the face of last year's global financial crisis.

"We have been working since the beginning of the global financial crisis to reduce its impact. The steps we have taken to deal with it have been correct. Had we taken wrong measures, the economy would have collapsed. So, the choices we made were not wrong," the president said in a dialog with capital market players here on Monday.

He said although Indonesia was able to safeguard its economy, it still had a lot of work to do to secure its economy in 2010 so that in 2011 the country's economy would hopefully return to normal and grow at a higher rate.

The president said at present Indonesia's economy was more resistant than 10 years ago. Although the global financial crisis did have an impact on the economy, the government was able to minimize it.

"The economic reforms carried out between 1998 and 2008 have shown positive results where the banking world has become stronger and more ready to face turmoil. At the same time we have also prepared laws and changed polices. The reforms have helped our economy to survive," the president said.