Mid 90s till early 2000s, I used to involved in BSKL. 96, 97, index going down. The way the finance minister handdle at the time to me seems disasterous, increase the interest rate to encourage people saving. It's disasterous to business and all the business chain. People stopped buying houses, just imagine how many businesses related to housing development. People stopped buying cars, and how many businesses related to car business, and the list go on to other business as well. When the business going down, where can the government collect the taxes. Luckily we have good and brilliant Prime Minister at the time.
1 comment:
Mid 90s till early 2000s, I used to involved in BSKL. 96, 97, index going down. The way the finance minister handdle at the time to me seems disasterous, increase the interest rate to encourage people saving. It's disasterous to business and all the business chain. People stopped buying houses, just imagine how many businesses related to housing development. People stopped buying cars, and how many businesses related to car business, and the list go on to other business as well. When the business going down, where can the government collect the taxes. Luckily we have good and brilliant Prime Minister at the time.
Post a Comment