Thu, 25 Dec 2008
Jakarta (ANTARA News) - The Indonesian Young Entrepreneurs Association (HIPMI) has predicted that businesses' performance which at present is experiencing the impact of global financial crisis in the country will recover in the second semester of 2009.

"In the first 3 to 4 months of 2009, the business performance will reach its gloomy peak but beginning in the second semester of the same year it will gradually rebound," HIPMI chairman Erwin Aksa said here on Tuesday.

He said that from now until March or April 2009, both export-based manufacturing industries, automotive, property and natural-based industries would be facing a gloomy phase.
The conditions will be worsened by the lack of banking credits for the property sector, automotive and plantations for fear that the credits would turn bad as a result of the crisis, he said.

"Now the interest rate of business credit is about 19 percent while we could afford only 14 percent," he added.
But with various efforts, the economy is expected to recover soon. The efforts among others include the extension of credits from state-owned banks which have surpluses from the third party funds, he said.

Besides asking for the lowering of the benchmark interest rate of the central bank (BI), Aksa also asked the government to release budget for increased civil servants' salaries, accelerate infrastructure projects and the channeling of direct cash assistance to the people. (*)



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