INDONESIAN ECONOMY FIRST QUARTER 2009
Growing at a Crossroad
Tuesday, June 16, 2009
Indonesia's economy is at a crossroad. Although growth in this year's first quarter was 4.4 percent, Indonesia's economy could actually have grown faster if only the government's money hadn't remained idle at Bank Indonesia. Two conditions must be met for Indonesia's economy to grow higher: declining bank interest rates in line with an increasingly lower BI Rate, and improved actual government expenditures.
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INDONESIA'S economy experienced 4.4 percent growth during the first quarter of this year. It was indeed slower than the fourth quarter of 2008 which was 5.2 percent. However, amid a global financial crisis, the figure is an achievement. This year it is estimated that only four countries recorded positive economic growth, namely Indonesia, China, India, and Vietnam.
The growth was supported by increasing household shopping at 5.8 percent-the highest
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