Jakarta – Indonesian Finance Minister Boediono said Indonesia's economic growth would persist if the next election was run well and the political situation remained stable.

He said that Indonesian economy's future would depend on the domestic political as well as security situation. He hoped that the Indonesian economy in 2004 would be better than that of the previous year.

"We hoped that our economy to grow well if the election is smooth. I hope our economy will keep growing," he said while attending the first trading day of the Jakarta Stock Exchange yesterday.

He said that the Indonesian economy in 2003 was on the right track. Among other indicators, he said the inflation rate was within the expected range of 5 per cent to 6 per cent.

He also showed that the Jakarta Stock Exchange Composite Index had increased dramatically last year. "It means that the growth rate of the stock exchange is positive even though some day before the crisis the index reached higher level," he said.

Senior Economic Minister Dorodjatun Kuntjoro-Jakti said that market players, shares issuers, and investors are the front guards of Indonesian economy. He said that those market players had significantly contributed to the economic activities in 2003.

Economic stability of the country, he said, can be measured not only by the stability of the domestic exchange rate but also by the stock market index, transaction volume, and market capitalization of the stock market.