Yudhoyono: Indonesian Economy Has Strong Fundamentalis

New York - President Susilo Bambang Yudhoyono dismissed doubt about the sustainability of the economic growth recorded by Indonesia amid the flagging global economy. The fairly strong growth rates reported by the country in the past several years were real backed up by strong fundamentals, Yudhoyono said here Monday. Therefore, there is no cause for hesitation to embark on long term investment in Indonesia, Yudhoyono told business leaders in an "Indonesian Investment Day in the New York Stock Exchange (NYSE). He cited a number of factors supporting his confidence about the sustainability of the country's economic growth. "Debate on the country's political system has been wrapped up. The process of democratization has reached a point of no turn-back and the country has reached sustainable political stability," he said. He said political stability gives positive contribution to the country's economic development. He said the Indonesian government always strictly observes prudence in adopting and implementing economic policy to avert the recurrence of the 1997 crisis. He said the country succeeded in managing a steady growth amid the global economic woes and has launched an economic development program until 2025 in what it called Master PLan for Acceleration and Expansion of Indonesian Economic Development (MP3EI). (*)