Indonesia gives a basic lesson to UK

“In 1998 our economy was devastated and it collapsed. We learnt a lot. So 10 years later, when the economy was impacted, we were united – the government, private sector, regions.

We also developed policies – fiscal policies, monetary policies – that protected us. We should prevent (companies) conducting lay offs.

We should safeguard unemployment levels. We know the community was impacted by this. We provided social assistance, we provided stimulus so that (people) can buy purchases.

It seemed to work for Indonesia. It may not work in other countries. What is important is we have to prevent lay-offs, we must ensure people can buy, we must ensure industries can produce and we must make the government be able to make the right fiscal and monetary policy responses.”

SBY meeting Cameron

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