The Jakarta Post
Indonesia’s economic recovery will depend heavily on how reforms in the US and Europe manage to lift them out of the worst downturn in decades, a minister says.
“We know the first and second quarters of this year will be the most affected by the impacts of the global [economic] crisis,” acting Coordinating Minister for the Economy Sri Mulyani Indrawati said Wednesday.
“Unless the financial and banking systems in Europe and the United States are fixed, there’s a chance the economy will continue to weaken until the first quarter of 2010.”
However, Mulyani said if positive sentiments continued in the third quarter of this year, “there is a chance for recovery to start in the second semester [of this year]”.
Mismanagement of financial policies and the banking system in the United States has been blamed for triggering the crisis, which h...