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Indonesian economic structure vulnerable

JAKARTA: Several economists perceived that Indonesian economy is not directly translated into people's prosperity. The macro-economic performance is built in a vulnerable economic structure.Indonesian macro economy is relatively favorable yet, it is
News Editor
News Editor - Bisnis.com 23 Mei 2011  |  07:39 WIB

JAKARTA: Several economists perceived that Indonesian economy is not directly translated into people's prosperity. The macro-economic performance is built in a vulnerable economic structure.Indonesian macro economy is relatively favorable yet, it is built in a vulnerable real economic structure, said Professor at Brawijaya University, Ahmad Erani Yustika. Agricultural and industrial sector continue to record modest growth, far below non-tradable sector although employment is centralized in those two sectors.Unemployment did decline, yet, the percentages of non full-time workers and half-unemployed workers keep rising. Thus, the job opportunity is getting worse, he said yesterday.Moreover, the declining unemployment is mainly contributed by informal sector that reaches 65% of the total workers.Such comment happens to be a response upon a survey result from Indo Barometer few weeks ago. The survey disclosed that 40.9% respondent perceived New Order as better period compared to Old and Reform order. Half of it or 22.8% perceived Reform Order as relatively better period.Generally, Indonesian economic has performed relatively positive in the past year, said Director Institute for Policy Reform, Riant Nugroho. The problem is the negative public perception over government's performance.Such negative perception is contributed by three factors, first, dissatisfaction over the performance of Indonesia Unite Cabinet II (2009-2014) compared to the first period (2004-2009), it happens merely due to below expectation performance of several ministries and incomplete settlement of several cases.Second, the relatively less valid and unreliable economic indicators used by government, such as lower economic growth realization compared to inflation that leads into a poor level of prosperity and high cost of living.Third, poor economic policies as the economic growth is mainly contributed by public consumption, meaning public role more significant than government's.Uneven GrowthVice Chairman of Chamber of Commerce and Industry (Kadin) on Research and Technology Bambang Sujagad sees economic growth in the period of reform is uneven because it is more dominated by improved performance in capital-intensive industries, such as financial, mining and oil and gas sector.Besides, as he said, the national economic growth of 6.5% on last year largely contributed by the purchase of consumer goods such as cars. He said the condition that must be considered because of the uneven economic growth which getting more sensitive to inflation."Economic growth does not touch the bottom level, so the public feels the economic condition in the New Order era was better."Vice Chairman of Chamber of Commerce and Industry on Trade Distribution and Logistics Division, Natsir Mansyur said that the current administration is not consistent with the issued policies and there is overlapping in ministries which overshadowing business world.Besides, monetary policy in the last 13 years has set high interest rate, taxes and empty rewards for specific industries which given great contribute to the economy, such as export-oriented, agriculture and labor-intensive industries."In New Order era there is export credit and special treatment for export-oriented industries. Currently, Indonesia is the sixth highest high economic countries in Asean, then, how the local industry can compete?"Vice Chairman of Commission XI of the House Harry Azhar Azis generally sees that there are no government after the New Order era which is able to compete with Soehartos administration particularly in macroeconomic sector. For example, in the era of Soeharto, the economic growth was able to reach 9% and poverty level was at 11%."It is normal if there is discontent. The point is people still do not see the certainty of food prices compared to New Order era."Vice Chairman of Commission XI DPR Achsanul Qosasi said survey of Indo Barometer was not appropriate because the level of welfare of both era can not be compared using the same parameter for different era.According to him, even distribution of economic welfare in the era of President SBY is not easy to do since economic policy in each area no longer comes from a single command or the central government as in the New Order era. (T02/T03/NOM)

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Editor : Muhammad Fariz Aulia
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