Indonesia industry sectors will be increasingly hard hit due to the decline in the rupiah exchange rate against the United States dollar is driven by economic crisis Greece, said observers.
The head of the Agency's investigation of the economy and society (LPEM) of the University of Indonesia, I Kadek Dian Sutrisna Artha, said the economic crisis Greece in the short term will give impact on global financial markets, especially the exchange rate of the euro against the u.s. dollar which decreased. Consequently, more strong u.s. dollar in the world.
In Indonesia, the strengthening of the u.s. dollar resulted in exchange rate of the rupiah against the u.s. dollar is weakening. According to Bank Indonesia, rupiah exchange rate against the currency of the United States on Monday (06/07) reached Rp 13.286 rupiah per US $ 1.
That situation, according to Kadek, is detrimental to the real sector of Indonesia, especially industry.
"For raw materials even capital goods industry depends a lot on domestic imports. With the terdepresiasinya of the rupiah against the u.s. dollar, importing raw materials will be more expensive, "said Kadek.
This reality, he said, in line with publication of the Central Bureau of statistics in may 2015 which mentions the trade balance surplus and at the same time imports of raw materials and capital goods decline.
"The trade balance surplus does not mean that the performance of the economy improves. It seems only the surplus, but shopping for imported raw materials to produce export goods is declining. This suggests a weakening in the domestic economy, especially in the sectors of manufacturing industry, "said Kadek.
Raw materials even capital goods industry depends a lot on domestic imports.
Economic conditions
However, the economic crisis that is now going on in Greece believed would not be experienced by Indonesia.
The Chairman of the Presidential Advisory Council, Economist Sri Adiningsih, said Indonesia's debt amount in secure categories, i.e. about 30% percent of the gross domestic product (GDP). As for the average National Income Budget deficits (ABPN) reach 2% of GDP.
"I'm sure, in Indonesia at this time we are not like that, far from Greece. Our banking system is stronger, healthier. There is a deficit BUDGET policy maximum of 3% of GDP. It makes the Government forced wise in managing the NATIONAL BUDGET, "said Sri told reporters BBC Indonesia, Jerome Wirawan.
Greece's foreign debt currently reach 360 billion euros, or approximately Rp 5345 trillion. The ratio of debt to GDP Greece even penetrate 177%.
However, the results of the referendum showed Greece almost 62% voted ' no '. As for stating "Yes" amounted to 38%.
A referendum Sunday (05/07) is simply giving the choice to the people of Greece to approve or reject proposals Troika, which consists of the European Commission, the European Central Bank, and the International Monetary Fund (IMF).
The proposal was originally presented to the Prime Minister of Greece Alexis Tsipras for providing bailouts amounting to 7.2 billion euros or the equivalent of Rp108 trillion.
However, Tsipras refused the terms of pengucuran bailouts because judging Troika provide requirements that are too tight.
