Rabu, 21 Zulqaidah 1440 / 24 Juli 2019

Rabu, 21 Zulqaidah 1440 / 24 Juli 2019

Country can be poor if it takes wrong policy: Sri Mulyani

Selasa 10 Apr 2018 07:00 WIB

Red: Reiny Dwinanda

Finance minister Sri Mulyani Indrawati

Finance minister Sri Mulyani Indrawati

Foto: Republika/ Wihdan
Sri Mulyani put Argentina as an example.

REPUBLIKA.CO.ID, JAKARTA -- Finance minister Sri Mulyani Indrawati has emphasized the importance of a correct policy. She said even an advanced country could become poor if it makes a wrong policy.

"If a country makes a wrong policy condition can be destroyed. Never think that a rich country will be rich forever,' she said in a lecture at Diponegoro University here on Monday.

Citing an example the former World Bank managing director referred to Argentina which in 1800s it had a living standard equal to that of West European countries such as Belgium and the Netherlands.

Now, however, its economy has turned into around a quarter or one third of those countries that it used to equal in the 1800s.

"It was as rich as Belgium and the Netherlands. But for the past 100 years it (Argetina) had taken a wrong policy. But now it has started to resurrect again," she said.

Also read: Indonesia's economy to go stronger by 2030: Jokowi

"Policy is one of the four foundations Indonesia would need to meet 2045 in addition to human resource quality, infrastructure and institutional quality," she said.

Sri Mulyani reminded that a poor country could also become an advanced country citing South Korea as an example and the key to that are human resources and education.

"Is South Korea free of corruption? No, Even its former president had recently been sentenced for it. However they keep rising up. There is correction," she said.

So, someone has been caught for corruption it is alright so long as he is tried while others keep fighting, she said.

Mulyani said that the first foundation is the quality of human resources covering education, health, character, values, integrity, professionalism as well as social and cultural conditions.

"Secondly, the quality of infrastructure. That is why President Joko Widodo has focussed on human resources and infrastructure development. Without them Indonesia will not be ready to build a foundation for 2045," she said.

Thirdly, she said, it is quality of institutions. She said good human resources and infrastructure would not perform maximally if institutions are corrupt, unprofessional, inefficient and not serving.

"Therefore I have reminded institutions be they public or private to be professional, have integrity, be efficient and serving. So institutions and policy are very important," she said.

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