| Abstraksi Narasi |
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Relatively little new information on the performance of the economy has become available in the four months covered by this survey, February to May 1972, though there are more complete data for some sectors for 1971 and some premilinary ones for past first months of this year. Judged by the criteria appropriate to the priorities of stabilisation and rehabilitation of the past five years, the economy continues, in general, to perform well. With an improvement in the balance of trade and adequate foreign aid, the short-term balance of payments situation is under control; with rising income and improved tax administration, the central government`s finances present no immediate problems; price stability is being well maintained; and output and investment continue to increase quite rapidly in most sectors.
But, as the last survey pointed out, there is growing disquiet about some current trends in the structure of the economy and questioning of some the priorities of the past five years.
There is concern about imbalances behind the satisfactory over-all rate of growth of the economy-- imbalance between oil and timber and traditional commodities and between Japan and other markets in the pattern of exports, between government revenues from the oil sector and other sources, between rice and other crops in the agricultural sector, between large capital-intensive and small labour-intensive firms in industry, and between development on Java (and especially in Djakarta) and on the outer islands. Some of these imbalances have implications for the social objectives of development--employment, income distribution and indigenous participation--which, it is increasingly recognised, need to be accorded higher priority in the years to come. |
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