Liputan6.com, Jakarta - The words 'volatility' and 'weak' have often been used to describe the current economy of many nations all over the world. Following the initial economic crisis in Greece, impacts have been felt in other parts of the world thereafter.
Indonesia is among those who have been subjugated from the impacts of overall economic slowdown. Its national growth this year shows unpromising phase with equally unattractive progress in several development sectors which left the nation with the privilege of growing in the second quarter of 2015 only by 4,67%, a slight decline from its previous percentage in the first quarter which was 4,72%.
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Such percentage is viewed to be a great problem as the Indonesian economy is incapable of surpassing a desirable amount o number in its economic growth percentage. This has also invited criticism as it is seen as a dramatic downfall from the percentage number on the very same timeframe of 2014.
Indonesia's economic volatility and uncertain level of currency rate have been the results of global economic slow down, which include the weakening economic position of Indonesia's strategic partnership in the trading sector. Following such weakening stance, was the equally devastated commodities price for Indonesian exported goods ranging from coal, mineral and palm oil.
Industrial sector suffers from such economic slowdown as budget allocation has been significantly cut thus hindering the hastiness of progress and development in this particular sector.
This surely comes as a great discrepancy to the widely declared investment interest and opportunities yielded by the government, as such economic disorder proves to have intervened in the undertakings of manufacturing industries thereby causing for the overall national growth to face a series of challenge along the way.
Indonesian President Joko 'Jokowi' Widodo sought for intensification of investment in industrial sectors so that there will be more jobs for people to profess in thereby reducing unemployment rate whilst improve peoples' welfare.
"Indonesian economic slow down is not only provoked by domesticated issues within the country, but it is also spurred by the overall economic instability at the regional and global level," Indonesian Industrial Minister, Saleh Husin told Liputan6.com.
Minister Saleh is assured of the fact that slowdown on the growth of national economy will not hinder industrial industry from achieving its target which is 6%.
Minister Saleh said that his department will continue to exert all of its power to assure effectiveness and productivity of Indonesian Industrial quality despite all the challenges that have presented itself in the most undesirable economical way
Listen to Industrial Ministry remarks as they rescue its sector from the dire consequences of national, regional and global economic slowdown. Click the video below:
(Alx/Tnt)