Indonesia’s economy has come out of a difficult period due to good financial policies and global economic fluctuations, the country’s Finance Minister Chatib Basri declared.

Basri made the statement on February 21 while visiting Australia to attend a meeting of finance ministers and central bank governors from the G-20 countries, held on February 22-23.

The Government and Bank of Indonesia’s policies on economic stabilisation and renovation have helped reduce the current account deficit and inflation rate, while economic growth remains quite high, he noted.

However, the minister emphasised that in the long term, Indonesia has to make serious efforts to improve its human resources, infrastructure and state institutions in order to transform itself from a middle-income to a developed country.
Regarding Indonesia ’s relations with Australia , he said that the two countries hold great potential in building a economic partnership and playing an important role in the world economy.-VNA