Tue, 18 Sep 2007
From: The Jakarta Post
By Urip Hudiono, The Jakarta Post, Jakarta
Indonesia's economy is expected to register higher growth this year and ahead as a revival in domestic demand continues to drive more consumption and investment, the Asian Development Bank (ADB) says in its latest economic outlook.

The ADB revised upwards its 2007 growth forecast for Indonesia to 6.2 percent from 6.0 percent previously, and its 2008 estimate to 6.4 percent from 6.3 percent.

"First-half private consumption and investment showed greater strength than expected, and this is likely to be maintained in the second half," the Manila-based multilateral agency said Monday in an update on its Asian Development Outlook 2007, which was released in April.

The ADB's growth forecasts are still lower than the government's, which is expecting 6.3 percent growth this year and 6.8 percent next year.

Mainly driven by consumer spending, a recovery in private investment and a solid expansion in net exports, the economy expanded by 6 percent in the first quarter and 6.3 percent in the second, translating into 6.1 percent first-half growth. The economy grew by 5.5 percent last year.

Looking ahead, the ADB sees growth in 2008 as likely to continue being driven by domestic demand, with inflation picking up only slightly to 6.3 percent this year but easing to 6 percent next year, which will be unlikely to dampen Indonesia's consumption-driven economy.

"The reductions in domestic interest rates since May 2006 and an improving investment climate are set to push investment growth next year, while a recovery in consumer confidence will lead to an acceleration in private consumption expenditure," the ADB said.

Bank Indonesia trimmed its benchmark interest rate to 8.25 percent at the moment from 12.5 percent in May last year. In the last two months, however, the bank refrained from further rate cuts due to a pickup in inflation, which reached 6.51 percent in August.

Among the risks that the ADB saw on the horizon for Indonesia's growth prospects include the fact that the positive developments could be partly offset by a smaller trade surplus as imports rise in response to stronger investment and consumption demand, while exports moderate in line with a projected decline in global non-fuel commodity prices.

The ADB also pointed to domestic risks in the form of inadequate action on structural reform, insufficient investment in infrastructure and the inability of local governments to implement development projects.



News Search/Filter
Transaction Rates
21 Jun 18
Buy
Sell
AED1
3,802.33
3,802.33
AFN1
194.99
194.99
ALL1
128.37
128.37
AMD1
28.96
28.96
ANG1
7,694.52
7,694.52
AOA1
56.63
56.63
ARS1
503.73
503.73
AUD1
10,295.90
10,295.90
AWG1
7,811.32
7,811.32
AZN1
8,203.62
8,203.62
BAM1
8,255.32
8,255.32
BBD1
6,983.33
6,983.33
BDT1
165.28
165.28
BGN1
8,264.94
8,264.94
BHD1
36,960.02
36,960.02
BIF1
7.89
7.89
BMD1
13,966.67
13,966.67
BND1
9,245.03
9,245.03
BOB1
2,021.02
2,021.02
BRL1
3,704.09
3,704.09
BSD1
13,966.67
13,966.67
BTC1
94,960,261
94,960,261
BTN1
205.13
205.13
BWP1
1,344.88
1,344.88
BYN1
6,971.84
6,971.84
BZD1
6,947.79
6,947.79
CAD1
10,495.22
10,495.22
CDF1
8.65
8.65
CHF1
14,019.75
14,019.75
CLF1
598,144.50
598,144.50
CLP1
21.80
21.80
CNH1
2,155.41
2,155.41
CNY1
2,157.81
2,157.81
COP1
4.81
4.81
CRC1
24.63
24.63
CUC1
13,966.67
13,966.67
CUP1
547.71
547.71
CVE1
146.28
146.28
CZK1
626.00
626.00
DJF1
78.44
78.44
DKK1
2,169.87
2,169.87
DOP1
281.96
281.96
DZD1
118.96
118.96
EGP1
781.02
781.02
ERN1
930.51
930.51
ETB1
506.87
506.87
EUR1
16,170.16
16,170.16
FJD1
6,689.98
6,689.98
FKP1
18,398.09
18,398.09
GBP1
18,398.09
18,398.09
GEL1
5,688.87
5,688.87
GGP1
18,398.09
18,398.09
GHS1
2,953.28
2,953.28
GIP1
18,398.09
18,398.09
GMD1
295.81
295.81
GNF1
1.54
1.54
GTQ1
1,863.97
1,863.97
GYD1
66.90
66.90
HKD1
1,780.17
1,780.17
HNL1
582.27
582.27
HRK1
2,191.30
2,191.30
HTG1
209.80
209.80
HUF1
49.94
49.94
IDR1
1.00
1.00
ILS1
3,859.21
3,859.21
IMP1
18,398.09
18,398.09
INR1
205.21
205.21
IQD1
11.73
11.73
IRR1
0.32
0.32
ISK1
127.89
127.89
JEP1
18,398.09
18,398.09
JMD1
105.73
105.73
JOD1
19,657.33
19,657.33
JPY1
126.53
126.53
KES1
138.15
138.15
KGS1
204.49
204.49
KHR1
3.43
3.43
KMF1
32.85
32.85
KPW1
15.51
15.51
KRW1
12.59
12.59
KWD1
46,136.50
46,136.50
KYD1
16,758.96
16,758.96
KZT1
40.99
40.99
LAK1
1.66
1.66
LBP1
9.24
9.24
LKR1
87.45
87.45
LRD1
97.49
97.49
LSL1
1,023.49
1,023.49
LYD1
10,272.48
10,272.48
MAD1
1,462.41
1,462.41
MDL1
826.68
826.68
MGA1
4.14
4.14
MKD1
262.62
262.62
MMK1
10.17
10.17
MNT1
5.76
5.76
MOP1
1,728.02
1,728.02
MRO1
39.23
39.23
MRU1
391.00
391.00
MUR1
397.46
397.46
MVR1
906.34
906.34
MWK1
19.06
19.06
MXN1
685.54
685.54
MYR1
3,487.30
3,487.30
MZN1
235.07
235.07
NAD1
1,023.49
1,023.49
NGN1
38.81
38.81
NIO1
441.04
441.04
NOK1
1,707.68
1,707.68
NPR1
128.23
128.23
NZD1
9,591.16
9,591.16
OMR1
36,279.80
36,279.80
PAB1
13,966.67
13,966.67
PEN1
4,258.09
4,258.09
PGK1
4,273.49
4,273.49
PHP1
261.97
261.97
PKR1
114.92
114.92
PLN1
3,746.32
3,746.32
PYG1
2.44
2.44
QAR1
3,835.94
3,835.94
RON1
3,460.71
3,460.71
RSD1
137.00
137.00
RUB1
219.61
219.61
RWF1
16.09
16.09
SAR1
3,723.85
3,723.85
SBD1
1,758.86
1,758.86
SCR1
1,030.44
1,030.44
SDG1
773.03
773.03
SEK1
1,572.81
1,572.81
SGD1
10,280.86
10,280.86
SHP1
18,398.09
18,398.09
SLL1
2.21
2.21
SOS1
24.10
24.10
SRD1
1,870.20
1,870.20
SSP1
107.21
107.21
STD1
0.65
0.65
STN1
659.27
659.27
SVC1
1,596.03
1,596.03
SYP1
27.12
27.12
SZL1
1,022.98
1,022.98
THB1
425.42
425.42
TJS1
1,533.55
1,533.55
TMT1
3,979.13
3,979.13
TND1
5,360.25
5,360.25
TOP1
6,098.63
6,098.63
TRY1
2,943.00
2,943.00
TTD1
2,072.02
2,072.02
TWD1
462.84
462.84
TZS1
6.13
6.13
UAH1
527.18
527.18
UGX1
3.60
3.60
USD1
13,966.67
13,966.67
UYU1
442.35
442.35
UZS1
1.76
1.76
VEF1
0.17
0.17
VND1
0.61
0.61
VUV1
129.48
129.48
WST1
5,412.53
5,412.53
XAF1
24.65
24.65
XAG1
227,920.01
227,920.01
XAU1
17,731,856.60
17,731,856.60
XCD1
5,167.96
5,167.96
XDR1
19,663.36
19,663.36
XOF1
24.65
24.65
XPD1
13,500,893.35
13,500,893.35
XPF1
135.50
135.50
XPT1
12,164,820.90
12,164,820.90
YER1
55.79
55.79
ZAR1
1,022.28
1,022.28
ZMW1
1,408.68
1,408.68
ZWL1
43.32
43.32
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services