Jakarta, May 18 -- Indonesian Finance Minister Purbaya Yudhi Sadewa on Monday dismissed criticism from The Economist, saying the British magazine outlet should instead praise Indonesia for maintaining economic stability and keeping its fiscal deficit under control.

Speaking at Halim Perdanakusuma Air Force Base in Jakarta on Monday, Purbaya said the government's debt remained around 40 percent of gross domestic product (GDP), while many European countries had debt levels nearing 100 percent of GDP.

"They should look at the policies of European countries, how large their deficits are and how much debt they have. Most are approaching 100 percent of GDP. We are still at 40 percent of GDP. We are still in good shape, so The Economist should...