THE Indonesian economy grew 4.4 percent in the first quarter of this year, slower than 5.2 percent in the fourth quarter of 2008 and even much slower than 6.4 percent in the third quarter. There was thus a significant slowdown in the past three quarters.

Still, in the midst of global recession the Indonesian economy continues to perform fairly well. Today very few economies have managed to maintain growth. Economists estimate that only four coun