Jakarta. The Indonesian Economists Association (ISEI) members are hoped to apply their knowledge to contribute to the economic development of the country.

Vice President Jusuf Kalla stated this at his speech during the celebration of the 60th ISEI anniversary and the inauguration of new ISEI committee for the period of 2015-2018, held at Dhanapala Building of the Finance Ministry in Jakarta, today.

The Vice President then appreciated and felt proud of what ISEI has done in the last 60 years for the nation.

The Indonesian economy, he added, has been frequently trapped in a hard situation when it is in the middle of growing high, as what happened in 2008.
He further took an example of the country’s economic condition during his first vice presidency in 2004 to 2009. In 2004, he said, the economic growth was about 4 to 5 percent, then in 2008 it was at its best at 6.4 percent before economic recession arising in the year.

“We should have been almost at seven percent at the time, but then we dropped again due to crisis. Our economy has been in fact very fluctuating,” argued Mr Kalla.

For that reason, he said, all national elements should work hand in hand to raise added values in real sectors, such as agriculture, manufactures, and services to create more job opportunities.

Bank of Indonesia’s policy

The Vice President at the event reminded Bank of Indonesia to issue only regulations which are in line with government’s policies, and not otherwise.

“A central bank in any country is aimed to stabilize finance and to control inflation, while government’s priority is to create more job opportunities,” he affirmed.

As long as the president becomes the head of the state, he continued, all state institutions including Bank of Indonesia have to abide by the president’s policy. This is, Mr Kalla said, in line with what is stated in Article 7 of the 2014 Law of Bank of Indonesia saying that the central bank in running his mandates should consider government’s economic policies.

“In this country, everybody must submit under the red and white flag,” he insisted.

Former Vice President Boediono, Coordinating Minister of Economic Affairs Darmin Nasution, Trade Minister Thomas Lembong, National Planning and Development Minister Sofyan Djalil, and Head of Vice President’s Secretariat Mohammad Oemar also attended the event.