
There is an interesting but also surprising news when President Susilo Bambang Yudhoyono said that Indonesia's debt is currently at 1800 trillion rupiah.
The number is no doubt made the economic observers were stunned. Seeing this, Kwik Kian Gie, Minister of Finance in the era of President Megawati Sukarnoputri said the amount of government debt that reached Rp 1800 trillion is already very dangerous and difficult to find a solution. According to him, the mineral resources in the bowels of the earth of Indonesia can be spent only to pay the debt. Although the debt is the accumulation of the previous government, but nevertheless the current government has sought various ways to reduce or get out of debt bondage. Due to the debt, the government seems unable to move freely in taking the direction of economic policy. In addition, a radical breakthrough is needed to reduce the impact of ballooning national debt.
Indeed the Government should never let or mortgage the state and nation to any party. Because the policy to get the debt must have been thought out carefully by economists. Therefore, the Ministry of Finance confirmed Indonesia's debt is well managed. This is proved by the opinion of the Supreme Audit Agency and also the increase of Indonesia's debt rating to 'Investment Grade'. The Policy decisions of foreign debt has been approved by the House concurrent with the approval of the State Budget. The debt is included in the State Budget. The Government says the state budget in the old format, the receiving funds from the debt is included as development aid so that the bauget is balance, but since 2000 a new format is used in which the the receiving debt is not included as revenue but separated as financing after the revenue and expenditure. But the question is, whether a different form or format of Indonesia's debt is able to maintain national economic stability? Is the debt to international financial institutions and donor countries, the Government able to take the appropriate policy to the culture of Indonesia?
Currently the government is already trying to boost the national economy, such as the provision of facilities for the convenience of investors, income taxes, ease of transactions to the issuance of government securities. In addition, stability which is very good at promoting economic growth that ultimately affect the payment of debt, is also a determinant of national economic progress. The current economic growth should not be enjoyed by only a handful of people or certain groups. On the other hand, looking at such a huge debt, many observers say every baby in the womb in Indonesia has been burdened by the state debt.//
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