Tue, 11 Nov 2008


Jakarta (ANTARA News) - Bank Indonesia deputy governor Hartadi A Sarwono said here on Monday the country`s economic growth was expected to reach around five percent or below 6.1 to 6.2 percent predicted in 2008.

"The growth of around five percent is very good because it can be 5.3 to 5.4 percent," he said a meeting with parliament members.

He said all countries in the world had their economic growth corrected due to the world`s economic slowdown as a result of a financial crisis in the US.

The condition would also affect the country particularly on its exports because of a slumping demand, he said.

He said the world now predicted that the US would suffer a recession moreover if new President Barrack Obama`s policies would be considered incredible and therefore future economic challenges would be big.

He said China that used to grow above nine percent was predicted to experience a slowdown growing at between seven to eight percent only.

Indonesia`s economy, he said, would also drop because it also adjusted to the world`s condition. "It is impossible for the country not to do it if the world`s economy makes an adjustment," he said.

He said the economic slowdown had been felt already. In the fourth quarter, he said the growth would not reach six percent while the 2008 annual growth would be between 6.1 and 6/3 percent.

To make the slowdown process not to go too fast Bank Indonesia would smoothen the flow of funds to the real sector to make the sector able to move the domestic economic activities.

"What is important for us is liquidity for economic activities is not hindered," he said.(*)



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