REPUBLIKA.CO.ID, JAKARTA -- Minister of Finance, Bambang Brodjonegoro said that the weakening of the exchange rate and the decline in the stock price index was not a crisis. Current conditions was claimed to be different from the crisis of 1998 and 2008.

According to Bambang, the current conditions can not be equated with the Asian financial crisis in 1998 or the regional or global crisis in 2008. Now, said Bambang, the United States (US) or the European economy was still growing, as well as emerging market countries, including Indonesia.

In 1998, the Asian financial crisis occurred because the crisis was localized only in Asia. Whereas in 2008, the US financial collapse had affected the whole world.

"Now, the financial system did not collapse and was still relatively strong. It was only economic slowdown due to the uncertainty that makes the volatile market lasts longer," said Bambang in his office, Monday (21/9).

Bambang explained, this phenomenon occurred because there has been discontinuation of monetary stimulus by the US. Moreover, in the near future US also plans to raise the interest rates.

"The global economy has never experienced monetary stimulus. When it's stopped and no tightening, there's certainly volatile. This was something new that we experienced and also the whole country," he added.

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