JAKARTA - Finance Minister Purbaya Yudhi Sadewa assessed that the fundamental conditions of the Indonesian economy are not as bad as previously described by a number of international rating agencies.
The statement was made after questions arose about President Prabowo Subianto's speech that offended the rating agency.
According to Purbaya, the government does not distrust rating agencies. However, he assessed that some of the previous assessments were too hasty.
"It's not that I don't believe it. Some people make judgments too early," said Purbaya at the Presidential Palace Complex, Jakarta, Monday (20/7).
He cited Standard & Poor's (S&P) which still maintains Indonesia's outlook at a stable level.
According to Purbaya, the decision shows that the Indonesian economic condition is still considered positive.
"It turns out that S&P is good, with a stable outlook," he said.
Purbaya said a number of economic indicators were still maintained, ranging from economic growth to a budget deficit that remained under control even though world oil prices had again increased.
"Growth is quite good, tends to be faster, the deficit is under control in the midst of turmoil like now," he said.
He assessed that the results of the S&P assessment strengthened the government's confidence that the direction of economic policy was still on the right track.
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