We started in thorny path resulted from the aftershock of economic stabilization program post the 1997/1998 crisis, and landed successfully inside a transition period of an economy categorized as middle income country. 9. Indonesia’s per capita income by the end of 2011 has reached approximately USD 3,000, six-fold increase from the figure in the Asian crisis of 1997/1998.
Also, a vast majority of government debt is in foreign currency, making fiscal policy exposed to FX risks. Some public companies continue to make FX deposits and take FX loans regardless of the nature of their hedging needs. Fortunately, the situation is changing rapidly and the government started actively to prioritize the use of dinars.