Sign up | Log in



Home  >>   Daily News  >>   Indonesia News  >>   Economy  >>   Indonesian growth forecast looks good
NEWS UPDATES 1 October 2010

Indonesian growth forecast looks good

Related Stories

September  30, 2010
 Indonesia set for rating upgrade

September 17, 2010
Corruption a threat to Indo economy

September  10, 2010
 Indonesia more competitive than ever

September 6, 2010
 Indo banks facing difficulties with micro credit

August 27, 2010
 Indo banks to meet new LDR rules

Backed by strong household consumption and rising investment, Indonesia's economy is expected to have exceeded 6 percent growth in the third quarter, Finance Minister Agus Martowardojo said on Thursday.

"Growth in the third quarter is likely to reach 6.2 percent to 6.3 percent [year-on-year]," Agus said on the sidelines of a hearing with lawmakers, lending credence to investors' bullish expectations.

Household consumption, the backbone of the economy, is projected to grow at a steady pace while investment, which saw a rapid decline during the global financial crisis, is expected to recover this year and help push the economy even higher, he said.

"Investment in Indonesia has the potential to grow and play a more important role in driving the overall economy over time," said DBS Bank economist Ma Tieying in the bank's quarterly report, titled Economics Markets Strategy.

"Market expectations for investment growth are high. Indonesia is widely believed to possess the potential to attract foreign direct investment inflows due to natural advantages of a large and young population pool and cheap labor costs.

This attractiveness is further enhanced in view of the recent pressure for wage increases in China and the related push to explore lower-costs production bases as substitutes in the regions," she wrote.

Growth in Indonesia, Southeast Asia's largest economy, continued to accelerate in the second quarter, posting a 6.2 percent year-on-year increase, the Central Statistics Bureau (BPS) said in August. It was the strongest growth since September 2008.

The economy grew 5.7 percent in the first quarter from the same time a year ago. BPS is scheduled to release third-quarter data in the middle of this month.

The government is projecting 5.8 percent growth for 2010 and 6.4 percent growth next year.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand