President Assures Accurate, Measurable Economic Policies

Jakarta, Aug 16 (Antara) - President Susilo Bambang Yudhoyono has assured that the government`s economic policies will always be accurate and measurable in the face of the difficult economic situation. "We will always assure that our economic policies are accurate and measurable," the President said when delivering the-state-of-the-nation address at a joint session with the House of Representatives (DPR) and the Regional Representative Council (DPD) at the parliament building here on Friday. The President said close coordination among fiscal authorities, monetary authorities and the real sector is of vital importance to address global economic upheavals. Indonesia is lucky to have the Financial System Stability Forum (FSSK) which is made up of representatives from the government, Bank Indonesia and the deposit insurance institute, he said. When the subprime mortgage crisis engulfed in 2008 the forum managed to rescue the Indonesian economy, he said. "I believe that the presence of the financial service authorities (OJK) will strengthen the Indonesian economy in the face of global economic upheavals," he said. The efforts to strengthen the economy also have been made by encouraging innovations, use of technology, incentives for the production of intermediate goods, and human resource development, he said. In addition, the fiscal room has also been improved by raising budget allocations for the infrastructure sector, social insurance, public transportation and renewable energy, he said. The government has also continued to improve the current account performance by boosting exports, managing imports and improving investment climate.