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NEWS UPDATES Asean Affairs     28-29 November  2011

Global crisis to impact Indonesia in 2012

Bank Indonesia (BI or the central bank) believes Indonesia will begin to feel the impact of the current global crisis only in 2012, a spokesman said.

Perry Warjiyo, director of BI`s directorate of economic research and monetary policies, said here on Tuesday the impact of the global crisis was actually already being felt in the financial sector but not as yet in the real sector.

He said the global economic slowdown would certainly affect Indonesia but it would be felt stronger next year.

"BI predicts our economy will grow 6.5 percent this year. We have revised it down from initially 6.6 percent," he said.

BI meanwhile has also revised down its prediction for 2012 from 6.7 percent to 6.5 percent.

Perry saw several sectors would support the country`s economic growth such as trade, telecommunication and natural resources.

Until the third quarter of 2011 there has been an outflow of capital totaling US$4.7 billion from shares, bonds and state securities.

Perry however believed in the fourt quarter capital would flow in again through "foreign direct investment."

He said total foreign direct investment last year reached US$13.3 billion and until the third quarter of 2011 it had been recorded at US$14.7 billion.

"By the end of 2011 BI predicts total foreign direct investment will reach US$16 billion," he said.

BI also believes the country`s rupiah currency would also remain stable with the inflation rate by the end of this year predicted to reach 4.0 percent while next year`s rate at 4.7 percent.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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