Not Impossible to Add Programs if Necessary: Finance Minister

Jakarta (Antara) - Finance minister Chatib Basri said it was possible to create new programs if the four economic packages issued recently prove insufficient in providing economic stability. "We keep monitoring and supervising it to see if we need to increase the dose and add more policies," he said here on Friday. Chatib added that the current package of economic policies was continuously being evaluated and the government would respond if the policies slow industrial growth. "Indicators of the slow growth could be seen from a decline in sales, such as in car sales. The best indicator, meanwhile, could be seen from the drop in cement sales, meaning investment is down," he said. Chatib noted that the government had issued its package of economic policies to calm markets due to the US plan to relax its quantitative easing policy. The new package is aimed at reducing the current account deficit, maintaining inflation and stabilizing the rupiah exchange rate, but it also has the potential to reduce economic growth, he said. "Investors often would only see current account deficits and inflation. They would rather like to see a decline in growth, than in the rupiah exchange rate," he said. The minister noted that the economic package was a realistic step that could be put in place immediately, while its implementation could easily be accepted by market participants to reduce uncertainties. "We are talking in a realistic context that would not create uncertainty and could really be implemented. We focus on the fastest way of settling problems," he said. Chatib added that the government would continue to coordinate with businessmen and financial market players regarding the effectiveness of the package issued in the third week of August. "We always meet and conduct evaluations. We will see if an additional package is needed," he said. (*)