Rizal Ramli Assessing Economic Conditions Jokowi Regime Less Good

Senior economist Dr Rizal Ramli said the main cause of the worsening economic conditions and purchasing power of people because of macroeconomic policies are super conservative.

He mentioned some of them, Jokowi's economic team only has the main priority to pay principal and interest on debt.

"Rp 512 trillion for 2017, a third priority infrastructure of Rp 387 trillion.No creativity to reduce debt burden in such a way as Debt-to-Nature Swap, Loan Swap and others," Rizal said in a written statement today.

The former Coordinating Minister for Economic Affairs called the economic team diligent.

"This is an avid business, so the retail cause drops, let's get straight, the conservative macroeconomic policy is causing the downturn, so there is no need to avoid finding solutions to get out of the conservative super economic policy," he said.

The former Coordinating Minister for Maritime and Resources also said that Jokowi's economic team only focuses on austerity. It is done merely to secure the interests of creditors, i.e. Debt payments.

"There is no growth story, spurring leading sectors that are competitive and quickly generate foreign exchange such as tourism, electronics and others," said Rizal.

Furthermore Rizal also assessed the economic team Jokowi see macro economics as if only a matter of inflation and the state budget.

Whereas Rizal said, many ways to trigger infrastructure outside the state budget such as asset revaluation. Rizal also said he managed to boost state-owned assets rose Rp 800 trillion and tax Rp 32 trillion in 2016 ago.

"In addition to asset revaluation should also do asset securitization, BOT / BOO for infrastructure in Java (purchasing power and economic growth is relatively high)," added Rizal.

Rizal also regretted credit growth under Jokowi's economic team which only reached 10%.

According to him, to achieve the economic target to grow 6.5%, the credit needs to grow 15 to 17%. "But it must be prudent," Rizal said.

Rizal also criticized the policy of cutting subsidies and taxes that are uber. Ironically the tax is included for the lower middle class such as sugar cane farmers and who have accounts of Rp 1 billion.

"The effort to lower the minimum taxable limit of Rp 4.5 million.If you dare the top 1% dong.In more sophisticated countries macro economic management, they loosen fiscal, tax and monetary when the economy slowdown.Later when it is improved, just diuber," Rizal concluded.

He claimed to get data if motorcycle sales currently down 5%.

In addition, the growth of electricity consumption is only 2% which usually can reach 9%. Growing cement turnover was unfortunate Rizal only reached 3% which is usually 10%.

"Instead of avidly avoiding the factual trends, recognize the factual trends and announce the steps to be taken and the time-frames, it's better not to duck anymore." It's bright, looking for a solution out of conservative macroeconomic policy, "he said.

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