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October 21, 2007

IMF projects growth at 6.1% for 2008

The International Monetary Fund (IMF) has estimated that Indonesia`s economic growth in 2008 will reach 6.1 percent, lower than the 6.2 percent predicted in 2007.

This was revealed in an Asian and Pacific regional economic projection quoted from an IMF official website on Friday.

According to the report, Indonesia has been predicted to be affected by the tightened policies in the major countries in the region, and by the slowing down of global demands following the slowing down of global economic development in 2008.

Nevertheless, Indonesia still booked a positive growth in terms of investment due to an estimated improvement in the prevailing investment climate. Investment growth in Indonesia in 2008 had been projected at 13.3 percent, much higher than the 8.5 percent projected in 2007.

In the meantime, Indonesia`s exports in 2008 had been projected to grow by 10 percent, while the 2007 projection stood at 8.7 percent. Growth in private consumption in 2008 had been projected at 4.7 percent like projected in 2007.

Generally speaking, Asia`s economic growth in 2008 had been predicted to reach 7.2 percent, slower than the 8 percent projected in 2007, while investment growth has been projected at 10.3 percent in 2008, and 10.8 percent in 2007

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