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View all search resultsDecline in mineral exports can be compensated with other products: BI
Bank Indonesia (BI)Deputy Governor Halim Alamsyah said that the issuance of a governmentregulation (PP) restricting raw ore exports would result in a decline ofmineral exports but that such a decline could be compensated with other exportproducts
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ank Indonesia (BI)Deputy Governor Halim Alamsyah said that the issuance of a governmentregulation (PP) restricting raw ore exports would result in a decline ofmineral exports but that such a decline could be compensated with other exportproducts.
'If there is a slight decline of mineral exports, this can be replaced with our other export products,' Halim told a press conference in Jakarta on Thursday, as quoted by Antara news agency.
Halim said that Indonesia still had export products that were competitive and could see increased demand thanks to improved economic situations in Indonesia's export destination countries, such as China and Japan and European countries.
'This has also made us quite optimistic about the condition of our current account,' said Halim.
BI Governor Agus Martowardojo acknowledged that the issuance of the PP restricting raw ore exports would impact Indonesia's balance of payment in the short term; but that in the mid-longer term, the measure would create positive impacts.
Agus said the government needed to take measures to boost the added-values of Indonesia's export products so that they could make bigger contributions to the economy.
'Our product competitiveness is still low even when the local currency exchange rate weakens. This will not provide benefits. Exporting only products with added value will result in better conditions,' he said. (ebf)
