By: Brawijaya*)
The depreciation of rupiah’s exchange rate is not an indication of the 1998 mon
etary crisis will be recur. Currently, rupiah has depreciated more than the monetary crisis in 1998. Rupiah exchange rate has reached 14.000 per USD. However, there are some differences Indonesia economic situation that is happened now and in 1998. Base on Bank Indonesia’s data, Indonesia’s economic growth sustain a positive growth at 4.9%. This condition is very different with Indonesia’s economic growth in 1998 that was exhibit a negative growth at -13.13%. This situation mean that indonesia economi still in a safe zone
Bank Mandiri economist, Andry Asmoro, describes the indonesian current economic growth is still above 4%, with inflation of 7.26% is much better when compared with the crisis of 1998. He said the Asian countries, including Indonesia, are relative strong today. The positive growth figure indicate that Indonesia’ economic activity is still fluent, still goes by the development dan still has the possibility of employment.
The Indonesian goverment and people must keep aware of economic crisis. Economic crisis might be happen and cause manifold trouble to social life and state. We must learn form ’98 crisis. At that time, crisis has been bother Indonesian people. The acting goverment have failed to anticipated the impact of global crisis. Indonesian people protested the acting government to cheapen food price and step down from his position.The protest occured ironically that were cause loss of lives and material.
History of crisis 1998 should be a learning for Indonesian goverment and people. Every issue about the occurrence crisis must be be taken intelligently. We must know that our goverment have established some policy to anticipated economic crisis. The weakening rupiah issue should not be used as trigger the occurrence of anarchist demonstrations. We should arise from economic adversity with innovation and creativity without depending on another country or imported products.
*) The author is economist observer
