Mengapa Ekonomi Tumbuh Hanya 6 Persen?
Pikiran Rakyat
ZYXWVUTSRQPONMLKJIHGFE
o
2
17
Senin
o
3
456
18
OJan
OPeb
19
o
Selasa
7
20
o Mar
Rabu
21
9
~
O M ei
0 Jumat
Kamis
~
22
OApr
•
10
24
OJun
25
OJul
o
Sabtu
o
Minggu
12
13
14
1 1 HGFEDCBA
26
0 Ags
27
O Sep
28
OOkt
15
29
ONov
30
•
31
Des
!II Ekonomi
engapa
•
,E k o n
H a~ya.
6 Persen?
ANYAK
k a la n g a n
m e m p e rta n y a k a n m e n g a p a
p e r tu m b u h a n
K o n s u m s i p e m e r in ta li y a n g ta h u n
tu m b u h 1 5 , 7 p e r s e n ( te r tin g g i
d i a n ta r a k o m p o n e n P D B 2 0 0 9 ) , p a d a tr iw u la n 1 / 2 0 1 0 m e n g a la m i p e r tu m b u h a n
- 8 ,8 p e r s e n ( m in u s ) d i
tr iw u la n 1 1 / 2 0 1 0 ju g a m a s ih ~ b u h
n e g a tif ( - 8 ,9 p e r s e n ) , b a r u d i tr iw u la n
I I I tu m b u h 3 ,0 p e r s e n , d a n d i tr iw u la n I V p r o y e k s i B a n k I n d o n e s ia ( B I ) ,
a k a n tu m b u h 2 , 7 p e r s e n . W a lh a s il,
k o m p o n e n K o n s u m s i P e m e r in ta h p a d a ta h u n in i d ip e r k ir a k a n a k a n tu r n b u h - 2 ,3 p e r s e n ( m in u 's ) .
S e c a r a a n g k a , p e r tu m b u h a n k o n s u m s i p e m e r in ta h y a n g n e g a tif s e b e n a rn y a m e ru p a k a n h a l y a n g sa n g a t
ir o n is . M e n g in g a t p e r m a n g g a r a n
B
2009
e k o n o m i I n d o n e s ia
2010 hanya m am p u d i k is a r a n 6
p e r s e n , m e n g in g a t
p e r tu m b u h a n
ekonom i di neg a r a - n e g a r a te ta n g g a b is a ja u h le b ih
tin g g i. T h a ila n d
yangsedang
b e rp e ra n g p u n
d ip e r k ir a k a n
p e r e k o n o m ia n n y a
a k a n tu m b u h 8 p e r s e n , I n d ia 9
p e r s e n , M a la y s ia 8 ,5 p e r s e n , d a n S in g a p u r a 1 5 p e r s e n . M a la h F ilip in a
y a n g ja r a n g d is e b u t d a la m h a l
p r e s ta s i e k o n o m i, d ip e r k ir a k a n a k a n
tu m b u h d i a ta s 7 p e r s e n . A k a n k a h I n d o n e s ia m e n ja d i n e g a r a y a n g p e r tu m b u h a n n y a te r e n d a h d i k a w a s a n
A s ia ?
K o n s u m S i P e m e n n ta h
K e tu a A p in d o ( A s o s ia s i P e n g u s a h a
I n d o n e s ia ) S o f y a n W a n a n d i m e n ila i
a d a y a n g s a la h d a la m m a n a je m e n p e -
E k s p o r B a r a n g c la n J a s a
m e r in ta h a n , s e h in g g a m e m b u a t k in e r ja p e r e k o n o m ia n s e p e r ti itu . A p a la g i d e n g a n p e r tu m b u h a n p o s itif
ta h u n 2 0 0 9 ( h a n y a a d a tig a n e g a r a d i
d u n ia , I n d o n e s ia , C in a , d a n I n d ia ) ,
s e h a r u s n y a m e n ja d i m o d a l b a g i I n d o n e s ia u n tu k m e n d o r o n g p e r e k o n o m ia n b e r tu m b u h le b ih tin g g i.
M e lih a t a n g k a p e r tu m b u h a n
K onsum si
Rum ah
P e m b e n tu k a n
Im p o r B a ra n g
Tangga
M o d a l T e ta p
D o m e s tik
B ru to
dan Jasa
k o m p o n e n -k o m p o n e n
P D B (p ro d u k
d o m e s tik b r u to ) 2 0 1 0 , a n g g a p a n S o f y a n W a n a n d i tid a k b is a d is a la h k a n .
K o n s u m s i p e m e r in ta h (government
expenditure) p a d a ta h u n in i d ip e r k ir a k a n a k a n m e n g a la m i p e r tu m b u h a n
n e g a tif . A r tin y a a d a m a s a la h d a la m
p e n y e r a p a n ( a ta u p e n d is tr ib u s ia n )
a n g g a ra n p e m b a n g u n a n 2 0 1 0 .
K lip in g
Hum as
Unpad
2010
r
pem bangunan
se h a ru sn y a
capital infloui
yang
m e n ja d i
(a lira n u a n g m a s u k
d a ri lu a r n e g e ri) k e p a s a r u a n g ,
ra sn y a
n in g k a ta n
k ita
PDB,
m a la h m e n ja d i fa k -
(k e n a ik a n ta k w a ja r h a s il k u m u la s i
to r p e n g u ra n g
(k a re n a m in u s ).
s p e k u la s i), d ik h a w a tirk a n
A p a la g i m e n g in g a t
k e u a n g a n . B I m e n c o b a m e n g u ra n g i
A P B N ta h u n in i
te k a n a n
m e ru p a k a n
n g a n m e n a w a rk a n
b is a
m e le d a k d a n m e n y e b a b k a n
yang
k ris is
captal iriflow t e r s e b u t d e term deposit
te rtin g g i s e p a n ja n g
(b u n g a m e n a rik te ta p i tid a k b is a
s e ja ra h In d o n e s ia
d ip e rd a g a n g k a n
(h a m p ir R p
s e h in g g a tid a k m e n a m b a h
1 .2 0 0
p e m e rin ta h
nakannya
di pasar sekunder
bubble).
N a m u n , h a s iln y a k u ra n g e fe k tif,
triliu n ), s e w a ja rn y a
term deposit
m engu-
m a la h b a n y a k d ig u -
n a k a n u n tu k m e m a rk ir
dengan
pem bangunan
le b ih e fis ie n d a n
e fe k tif. D a n a A P B N
d a n a -d a n a
y a n g b e lu m
nakan A PB N m aupun
d ig u -
A PB D . Seda-
p a d a d a s a rn y a d ib ia y a i o le h s e m u a
ngkan
m a sy a ra k a t
n y e n a n g i p a s a r u a n g In d o n e s ia
In d o n e s ia .
A w al D esem ber
m e m b e rita k a n
2010
m e d ia m a s s a
ngan
b a h w a p e m e rin ta h
a n g g a ra n y a n g
k o n o n tin g g a l
100
s is a R p
d a n a lu a r n e g e ri, te ta p m e p e ra tu ra n n y a
triliu n -
e k o n o m i, je la s d a n a -d a n a
s a m p a i a k h ir ta h u n . N a -
n g u n a n y a n g h a ru sn y a
m u lu s p e re k o n o m ia n
b is a d ic a p a i. P ro y e k s i B I
k o n s u m s i p e m e rin ta h
2 ,3 p e rs e n
p ro y e k si
2010
a k a n tu m b u h
-
te rs e b u t?
S a m p a i s a a t in i
re sm i d a ri p e m e -
rin ta h . N a m u n , s e b a g a ia n
pem bangunan
n g a n fu n g s in y a . A p a la g i m e n g in g a t
s e k to r riil s a a t in i s e b e n a rn y a
m e n g a p -m e n g a p
sedang
k e s u lita n k r e d it,"
P a d a h a l m e n u ru t
s e re tm y a p e n y e ra p a ri a n g g a ra n p e m ta k a d a p e n je la s a n
m e n ja d i s tim e n ja d i k e h ila -
k a ta A ld rin .
(m in u s ).
L a n ta s , a p a y a n g m e n y e b a b k a n
bangunan
a n g g a ra n
te rs e b u t d ip a s tik a n
d i-
p a rk ir d i B I. S a a t s e m in a r In d o n e s ia
M ille n iu m
D e v e lo p m e n t G o a ls d i U n -
p a d , S a b tu
(1 1 /1 2 ),
D ire k tu r D ire k -
K e tu a IS E I B a n -
d u n g K o o rd in a to r J a b a r In a P rim ia n a , s e k to r riil m e ru p a k a n
te rb a ik
b a g i In d o n e s ia
p e lu a n g
u n tu k
m e n g g e n jo t a n g k a p e rtu m b u h a n
tin g g i-tin g g i. B a h k a n u n tu k In d o n e s ia , d a ri p e rk e m b a n g a n
. se b e n a rn y a
n e rja
d iu k u r
s e k to r riilla h
b a ik -b u ru k
p e re k o n o m ia n .
y a n g s e d e m ik ia n
a y a b u n g a u n tu k d a n a -d a n a
o le h k o n s u rn s i b is a d ik a ta k a n
y a n g d i-
p a rk ir d i B I y a n g d ip e rk ira k a n
be-
sa ra n n y a
m e n c a p a i R p 2 4 triliu n p a -
d a ta h u n
in i.
M e n u ru t
H e n d a r, h in g g a a k h ir N o dana
2010
d a n d ip e rk ira k a n
Rp
450
b e s a r, p e rtu m b u h a n
5 -6 p e rse n
y a n g d id o ro n g
b is a d i-
c a p a i ta n p a k e lu a r k e rin g a t.
U n tu k m e n g g e n jo t p e rtu m b u h a n
e k o n o m i d a ri s e k to r riil p u n s e b e -
y a n g d ip a rk ir d i
B I sudah m encapai R p
akan
tra d is io n a l
k i-
D engan pasar
to ra t P e n g e lo la a n M o n e te r B I H e n d a r M .A ., m e n g e lu h k a n b e s a r m y a b i-
vem ber
triliu n ,
400
p a d a a k h ir ta h u n
triliu n . J u m la h
te rs e b u t
n a rn y a In d o n e s ia
s u d a h m e m ilik i
m o d a l y a n g b e s a r. M is a ln y a s e n tim e n
in te m a s io n a l
u n tu k m e n a rik in v e s -
ta s i, s a a t in i s e d a n g b a g u s -b a g u s n y a .
D i a n ta ra n y a
d e n g a n n a ik n y a p e r-
d is e ra p m e la lu i o p e ra s i m o n e te r
in g k a t d a y a s a in g n a s io n a l d a ri
(tra n s a k s i te rm
u ru ta n
d e p o s it, S e rtifik a t
B a n k In d o n e s ia /S ls l,
ah)
d a n S B I s y a ri-
B I. S e b a g a ia n b e s a r d a n a
b u t m e ru p a k a n
d ite m p a tk a n
p e m e rin ta h
term deposit
p e m e rin ta h ,
pusat m aupun
ta h d a e ra h . S e m e n ta ra
S B I d a n S B I s y a ria h
te rs e yang
b a ik d a ri
p e m e rin -
d a ri le la n g
m e n y e ra p
dana
M e n u ru t p e n g a m a t m o n e te r A ld rin
term deposit
54
m e ru p a k a n
ke
4 4 , d a n p e rin g k a t s is i k e m u -
d a h a n u n tu k b e rb is n is y a rig ju g a
m e n in g k a t d a ri p e rin g k a t
129
ke
115.
" M a la h u n tu k in s e n tif s e k to r rill
p u n se b e n a rn y a
su d a h a d a b e b e ra p a
a tu ra n y a n g d ib u a t. N a m u n
s a a t in i b e lu m
sam pai
s a tu p u n y a n g b is a d i-
im p le m e n ta s ik a n
s e c a ra o p tim a l.
P a d a h a l d e n g a n m e n g o p tim a lk a n
k u ra n g le b ih R p 5 5 triliu n .
H e rw a n y
d i-
y a n g tid a k e fe k tif. A n g g a ra n p e m b a -
d ira g u k a n
(y a n g s a y a y a k in m e ru p a k a n
yang
p a rk ir d i B I te rs e b u t s e b a g a i d a n a
m u n s e c a ra lo g ik a h a l te rs e b u t s a n g a t
p a lin g o p tim is tis ) m e n y e b u tk a n
de-
s a n g a t lo n g g a r .·
" D a la m k o n te k s p e m b a n g u n a n
o p tim is tis p e n y e ra p a n
b is a te rs e ra p
D e-
capital inflow k e p a s a r u a n g
m e n y e b a b k a n bubble economy
s tim u lu s u n tu k p e -
in -
s e n tif-in s e n tif te rs e b u t, s a y a y a k in
p e rtu m b u h a n
e k o n o m i a k a n le b ih
p ro d u k b a ru B I s e b a g a i s a la h s a tu
tin g g i d a r i 6 p e r s e n ," k a ta n y a . ( Y . F i-
u p a y a u n tu k m e n g u ra n g i
tria d i/" P R " )* * *
te k a n a n
r
ZYXWVUTSRQPONMLKJIHGFE
o
2
17
Senin
o
3
456
18
OJan
OPeb
19
o
Selasa
7
20
o Mar
Rabu
21
9
~
O M ei
0 Jumat
Kamis
~
22
OApr
•
10
24
OJun
25
OJul
o
Sabtu
o
Minggu
12
13
14
1 1 HGFEDCBA
26
0 Ags
27
O Sep
28
OOkt
15
29
ONov
30
•
31
Des
!II Ekonomi
engapa
•
,E k o n
H a~ya.
6 Persen?
ANYAK
k a la n g a n
m e m p e rta n y a k a n m e n g a p a
p e r tu m b u h a n
K o n s u m s i p e m e r in ta li y a n g ta h u n
tu m b u h 1 5 , 7 p e r s e n ( te r tin g g i
d i a n ta r a k o m p o n e n P D B 2 0 0 9 ) , p a d a tr iw u la n 1 / 2 0 1 0 m e n g a la m i p e r tu m b u h a n
- 8 ,8 p e r s e n ( m in u s ) d i
tr iw u la n 1 1 / 2 0 1 0 ju g a m a s ih ~ b u h
n e g a tif ( - 8 ,9 p e r s e n ) , b a r u d i tr iw u la n
I I I tu m b u h 3 ,0 p e r s e n , d a n d i tr iw u la n I V p r o y e k s i B a n k I n d o n e s ia ( B I ) ,
a k a n tu m b u h 2 , 7 p e r s e n . W a lh a s il,
k o m p o n e n K o n s u m s i P e m e r in ta h p a d a ta h u n in i d ip e r k ir a k a n a k a n tu r n b u h - 2 ,3 p e r s e n ( m in u 's ) .
S e c a r a a n g k a , p e r tu m b u h a n k o n s u m s i p e m e r in ta h y a n g n e g a tif s e b e n a rn y a m e ru p a k a n h a l y a n g sa n g a t
ir o n is . M e n g in g a t p e r m a n g g a r a n
B
2009
e k o n o m i I n d o n e s ia
2010 hanya m am p u d i k is a r a n 6
p e r s e n , m e n g in g a t
p e r tu m b u h a n
ekonom i di neg a r a - n e g a r a te ta n g g a b is a ja u h le b ih
tin g g i. T h a ila n d
yangsedang
b e rp e ra n g p u n
d ip e r k ir a k a n
p e r e k o n o m ia n n y a
a k a n tu m b u h 8 p e r s e n , I n d ia 9
p e r s e n , M a la y s ia 8 ,5 p e r s e n , d a n S in g a p u r a 1 5 p e r s e n . M a la h F ilip in a
y a n g ja r a n g d is e b u t d a la m h a l
p r e s ta s i e k o n o m i, d ip e r k ir a k a n a k a n
tu m b u h d i a ta s 7 p e r s e n . A k a n k a h I n d o n e s ia m e n ja d i n e g a r a y a n g p e r tu m b u h a n n y a te r e n d a h d i k a w a s a n
A s ia ?
K o n s u m S i P e m e n n ta h
K e tu a A p in d o ( A s o s ia s i P e n g u s a h a
I n d o n e s ia ) S o f y a n W a n a n d i m e n ila i
a d a y a n g s a la h d a la m m a n a je m e n p e -
E k s p o r B a r a n g c la n J a s a
m e r in ta h a n , s e h in g g a m e m b u a t k in e r ja p e r e k o n o m ia n s e p e r ti itu . A p a la g i d e n g a n p e r tu m b u h a n p o s itif
ta h u n 2 0 0 9 ( h a n y a a d a tig a n e g a r a d i
d u n ia , I n d o n e s ia , C in a , d a n I n d ia ) ,
s e h a r u s n y a m e n ja d i m o d a l b a g i I n d o n e s ia u n tu k m e n d o r o n g p e r e k o n o m ia n b e r tu m b u h le b ih tin g g i.
M e lih a t a n g k a p e r tu m b u h a n
K onsum si
Rum ah
P e m b e n tu k a n
Im p o r B a ra n g
Tangga
M o d a l T e ta p
D o m e s tik
B ru to
dan Jasa
k o m p o n e n -k o m p o n e n
P D B (p ro d u k
d o m e s tik b r u to ) 2 0 1 0 , a n g g a p a n S o f y a n W a n a n d i tid a k b is a d is a la h k a n .
K o n s u m s i p e m e r in ta h (government
expenditure) p a d a ta h u n in i d ip e r k ir a k a n a k a n m e n g a la m i p e r tu m b u h a n
n e g a tif . A r tin y a a d a m a s a la h d a la m
p e n y e r a p a n ( a ta u p e n d is tr ib u s ia n )
a n g g a ra n p e m b a n g u n a n 2 0 1 0 .
K lip in g
Hum as
Unpad
2010
r
pem bangunan
se h a ru sn y a
capital infloui
yang
m e n ja d i
(a lira n u a n g m a s u k
d a ri lu a r n e g e ri) k e p a s a r u a n g ,
ra sn y a
n in g k a ta n
k ita
PDB,
m a la h m e n ja d i fa k -
(k e n a ik a n ta k w a ja r h a s il k u m u la s i
to r p e n g u ra n g
(k a re n a m in u s ).
s p e k u la s i), d ik h a w a tirk a n
A p a la g i m e n g in g a t
k e u a n g a n . B I m e n c o b a m e n g u ra n g i
A P B N ta h u n in i
te k a n a n
m e ru p a k a n
n g a n m e n a w a rk a n
b is a
m e le d a k d a n m e n y e b a b k a n
yang
k ris is
captal iriflow t e r s e b u t d e term deposit
te rtin g g i s e p a n ja n g
(b u n g a m e n a rik te ta p i tid a k b is a
s e ja ra h In d o n e s ia
d ip e rd a g a n g k a n
(h a m p ir R p
s e h in g g a tid a k m e n a m b a h
1 .2 0 0
p e m e rin ta h
nakannya
di pasar sekunder
bubble).
N a m u n , h a s iln y a k u ra n g e fe k tif,
triliu n ), s e w a ja rn y a
term deposit
m engu-
m a la h b a n y a k d ig u -
n a k a n u n tu k m e m a rk ir
dengan
pem bangunan
le b ih e fis ie n d a n
e fe k tif. D a n a A P B N
d a n a -d a n a
y a n g b e lu m
nakan A PB N m aupun
d ig u -
A PB D . Seda-
p a d a d a s a rn y a d ib ia y a i o le h s e m u a
ngkan
m a sy a ra k a t
n y e n a n g i p a s a r u a n g In d o n e s ia
In d o n e s ia .
A w al D esem ber
m e m b e rita k a n
2010
m e d ia m a s s a
ngan
b a h w a p e m e rin ta h
a n g g a ra n y a n g
k o n o n tin g g a l
100
s is a R p
d a n a lu a r n e g e ri, te ta p m e p e ra tu ra n n y a
triliu n -
e k o n o m i, je la s d a n a -d a n a
s a m p a i a k h ir ta h u n . N a -
n g u n a n y a n g h a ru sn y a
m u lu s p e re k o n o m ia n
b is a d ic a p a i. P ro y e k s i B I
k o n s u m s i p e m e rin ta h
2 ,3 p e rs e n
p ro y e k si
2010
a k a n tu m b u h
-
te rs e b u t?
S a m p a i s a a t in i
re sm i d a ri p e m e -
rin ta h . N a m u n , s e b a g a ia n
pem bangunan
n g a n fu n g s in y a . A p a la g i m e n g in g a t
s e k to r riil s a a t in i s e b e n a rn y a
m e n g a p -m e n g a p
sedang
k e s u lita n k r e d it,"
P a d a h a l m e n u ru t
s e re tm y a p e n y e ra p a ri a n g g a ra n p e m ta k a d a p e n je la s a n
m e n ja d i s tim e n ja d i k e h ila -
k a ta A ld rin .
(m in u s ).
L a n ta s , a p a y a n g m e n y e b a b k a n
bangunan
a n g g a ra n
te rs e b u t d ip a s tik a n
d i-
p a rk ir d i B I. S a a t s e m in a r In d o n e s ia
M ille n iu m
D e v e lo p m e n t G o a ls d i U n -
p a d , S a b tu
(1 1 /1 2 ),
D ire k tu r D ire k -
K e tu a IS E I B a n -
d u n g K o o rd in a to r J a b a r In a P rim ia n a , s e k to r riil m e ru p a k a n
te rb a ik
b a g i In d o n e s ia
p e lu a n g
u n tu k
m e n g g e n jo t a n g k a p e rtu m b u h a n
tin g g i-tin g g i. B a h k a n u n tu k In d o n e s ia , d a ri p e rk e m b a n g a n
. se b e n a rn y a
n e rja
d iu k u r
s e k to r riilla h
b a ik -b u ru k
p e re k o n o m ia n .
y a n g s e d e m ik ia n
a y a b u n g a u n tu k d a n a -d a n a
o le h k o n s u rn s i b is a d ik a ta k a n
y a n g d i-
p a rk ir d i B I y a n g d ip e rk ira k a n
be-
sa ra n n y a
m e n c a p a i R p 2 4 triliu n p a -
d a ta h u n
in i.
M e n u ru t
H e n d a r, h in g g a a k h ir N o dana
2010
d a n d ip e rk ira k a n
Rp
450
b e s a r, p e rtu m b u h a n
5 -6 p e rse n
y a n g d id o ro n g
b is a d i-
c a p a i ta n p a k e lu a r k e rin g a t.
U n tu k m e n g g e n jo t p e rtu m b u h a n
e k o n o m i d a ri s e k to r riil p u n s e b e -
y a n g d ip a rk ir d i
B I sudah m encapai R p
akan
tra d is io n a l
k i-
D engan pasar
to ra t P e n g e lo la a n M o n e te r B I H e n d a r M .A ., m e n g e lu h k a n b e s a r m y a b i-
vem ber
triliu n ,
400
p a d a a k h ir ta h u n
triliu n . J u m la h
te rs e b u t
n a rn y a In d o n e s ia
s u d a h m e m ilik i
m o d a l y a n g b e s a r. M is a ln y a s e n tim e n
in te m a s io n a l
u n tu k m e n a rik in v e s -
ta s i, s a a t in i s e d a n g b a g u s -b a g u s n y a .
D i a n ta ra n y a
d e n g a n n a ik n y a p e r-
d is e ra p m e la lu i o p e ra s i m o n e te r
in g k a t d a y a s a in g n a s io n a l d a ri
(tra n s a k s i te rm
u ru ta n
d e p o s it, S e rtifik a t
B a n k In d o n e s ia /S ls l,
ah)
d a n S B I s y a ri-
B I. S e b a g a ia n b e s a r d a n a
b u t m e ru p a k a n
d ite m p a tk a n
p e m e rin ta h
term deposit
p e m e rin ta h ,
pusat m aupun
ta h d a e ra h . S e m e n ta ra
S B I d a n S B I s y a ria h
te rs e yang
b a ik d a ri
p e m e rin -
d a ri le la n g
m e n y e ra p
dana
M e n u ru t p e n g a m a t m o n e te r A ld rin
term deposit
54
m e ru p a k a n
ke
4 4 , d a n p e rin g k a t s is i k e m u -
d a h a n u n tu k b e rb is n is y a rig ju g a
m e n in g k a t d a ri p e rin g k a t
129
ke
115.
" M a la h u n tu k in s e n tif s e k to r rill
p u n se b e n a rn y a
su d a h a d a b e b e ra p a
a tu ra n y a n g d ib u a t. N a m u n
s a a t in i b e lu m
sam pai
s a tu p u n y a n g b is a d i-
im p le m e n ta s ik a n
s e c a ra o p tim a l.
P a d a h a l d e n g a n m e n g o p tim a lk a n
k u ra n g le b ih R p 5 5 triliu n .
H e rw a n y
d i-
y a n g tid a k e fe k tif. A n g g a ra n p e m b a -
d ira g u k a n
(y a n g s a y a y a k in m e ru p a k a n
yang
p a rk ir d i B I te rs e b u t s e b a g a i d a n a
m u n s e c a ra lo g ik a h a l te rs e b u t s a n g a t
p a lin g o p tim is tis ) m e n y e b u tk a n
de-
s a n g a t lo n g g a r .·
" D a la m k o n te k s p e m b a n g u n a n
o p tim is tis p e n y e ra p a n
b is a te rs e ra p
D e-
capital inflow k e p a s a r u a n g
m e n y e b a b k a n bubble economy
s tim u lu s u n tu k p e -
in -
s e n tif-in s e n tif te rs e b u t, s a y a y a k in
p e rtu m b u h a n
e k o n o m i a k a n le b ih
p ro d u k b a ru B I s e b a g a i s a la h s a tu
tin g g i d a r i 6 p e r s e n ," k a ta n y a . ( Y . F i-
u p a y a u n tu k m e n g u ra n g i
tria d i/" P R " )* * *
te k a n a n
r