Tue, 09 Jun 2009
Infrastructure in Indonesia remains a crucial problem hampering growth, the government admitted recently in response to an assessment conducted by the Swiss-based International Institute for Management Development (IMD).

“Infrastructure is still [the government’s] imperative, although overall it has improved,” said Bambang Susantono, the deputy to the coordinating minister for the economy, in charge of infrastructure, on Monday.

Infrastructure development was on the government’s medium and long-term agendas and significant improvements in this sector would materialize next year with the completion of new transportation systems, roads and electricity services, Bambang said.

In its World Competitiveness Yearbook 2009, IMD says Indonesia needs to improve its infrastructure, despite its “most spectacular” performance, rising from 51st place to 42nd, overall.

In terms of infrastructure, Indonesia had dropped from 51st place in 2008 to 53rd in 2009, but in the government efficiency ranking it rose from 38th in 2008 to 31st in 2009; and in business efficiency it rose from 44th to 38th.

By comparison, Singapore ranked 3rd overall, Malaysia 18th, Thailand 26th and the Philippines 43rd.

Emerging economies were also ranked; Brazil was 40th, Russia 49th, India 30th and China 20th.

The US still ranked first, but Hong Kong was swiftly “closing the gap” with the US, gaining second position, the yearbook says.

IMD had surveyed 57 countries worldwide using achievements of each country last year as the basis for its research. These achievements were divided into 329 criteria.

“Indonesia stands out because the economy still has positive growth, which is attractive from an economic perspective because of its strong base,” Coordinating Minister for the Economy Sri Mulyani Indrawati said.

Indonesia’s economy had grown 4.4 percent in the first quarter of 2009 from a year earlier, according to the Central Statistics Agency (BPS). Its Q1 growth was just below that of China and India, while other economies suffered serious downturns because of the global financial crisis.

The government expects the economy to expand between 4 and 4.5 percent this year.

Last week, the International Monetary Fund (IMF) revised its growth forecast for Indonesia from 2.5 percent to between 3 and 4 percent.

“We warmly welcome the survey because it is in line with the government’s aim to improve investment to boost the economy,” Mulyani said.

IMD also conducted a stress test on competitiveness, an analysis of how well equipped countries are to weather the global financial crisis and improve their competitiveness in the near future.

Denmark ranked first in the test because of its resilient business and government sectors.

Other smaller countries in Northern Europe and Southeast Asia, with populations of less than 30 million, will also fare well, IMD says.

Indonesia ranks 33rd in the stress test, which assessed economic forecasts, government policies, business performances and societal conditions.

Singapore ranked second in the stress test, Malaysia 10th, Thailand 19th and the Philippines 32nd. Emerging economies Brazil ranked 22nd, Russia 51st, India 13th and China 18th.

Meanwhile, developed economies the US ranked 28th, the UK 34th and France 44th, as they are hit hardest by the global crisis.

IMD’s World Competitiveness Yearbook 2009 can be accessed at www.imd.ch/wcy09



News Search/Filter
Transaction Rates
22 Jul 18
Buy
Sell
AED1
3,897.35
3,897.35
AFN1
196.38
196.38
ALL1
133.47
133.47
AMD1
29.81
29.81
ANG1
7,753.99
7,753.99
AOA1
55.94
55.94
ARS1
519.14
519.14
AUD1
10,613.64
10,613.64
AWG1
8,002.03
8,002.03
AZN1
8,408.62
8,408.62
BAM1
8,586.19
8,586.19
BBD1
7,157.84
7,157.84
BDT1
170.57
170.57
BGN1
8,586.68
8,586.68
BHD1
37,907.47
37,907.47
BIF1
8.01
8.01
BMD1
14,315.68
14,315.68
BND1
9,474.38
9,474.38
BOB1
2,085.99
2,085.99
BRL1
3,798.27
3,798.27
BSD1
14,315.68
14,315.68
BTC1
106,439,240
106,439,240
BTN1
209.17
209.17
BWP1
1,391.67
1,391.67
BYN1
7,214.35
7,214.35
BZD1
7,117.75
7,117.75
CAD1
10,885.64
10,885.64
CDF1
8.85
8.85
CHF1
14,420.01
14,420.01
CLF1
595,246.63
595,246.63
CLP1
21.66
21.66
CNH1
2,111.86
2,111.86
CNY1
2,114.38
2,114.38
COP1
5.00
5.00
CRC1
25.22
25.22
CUC1
14,315.68
14,315.68
CUP1
561.39
561.39
CVE1
151.56
151.56
CZK1
648.69
648.69
DJF1
80.41
80.41
DKK1
2,252.02
2,252.02
DOP1
288.74
288.74
DZD1
121.66
121.66
EGP1
799.75
799.75
ERN1
945.59
945.59
ETB1
517.55
517.55
EUR1
16,790.85
16,790.85
FJD1
6,778.42
6,778.42
FKP1
18,800.80
18,800.80
GBP1
18,800.80
18,800.80
GEL1
5,851.63
5,851.63
GGP1
18,800.80
18,800.80
GHS1
2,985.54
2,985.54
GIP1
18,800.80
18,800.80
GMD1
297.93
297.93
GNF1
1.57
1.57
GTQ1
1,909.41
1,909.41
GYD1
68.89
68.89
HKD1
1,823.66
1,823.66
HNL1
595.74
595.74
HRK1
2,271.41
2,271.41
HTG1
213.21
213.21
HUF1
51.55
51.55
IDR1
1.00
1.00
ILS1
3,945.46
3,945.46
IMP1
18,800.80
18,800.80
INR1
208.23
208.23
IQD1
12.08
12.08
IRR1
0.32
0.32
ISK1
134.69
134.69
JEP1
18,800.80
18,800.80
JMD1
109.73
109.73
JOD1
20,177.02
20,177.02
JPY1
128.47
128.47
KES1
142.27
142.27
KGS1
209.76
209.76
KHR1
3.52
3.52
KMF1
34.07
34.07
KPW1
15.90
15.90
KRW1
12.69
12.69
KWD1
47,317.21
47,317.21
KYD1
17,167.72
17,167.72
KZT1
41.59
41.59
LAK1
1.71
1.71
LBP1
9.47
9.47
LKR1
90.11
90.11
LRD1
93.41
93.41
LSL1
1,066.69
1,066.69
LYD1
10,447.91
10,447.91
MAD1
1,517.69
1,517.69
MDL1
857.71
857.71
MGA1
4.26
4.26
MKD1
272.41
272.41
MMK1
9.94
9.94
MNT1
5.86
5.86
MOP1
1,772.05
1,772.05
MRO1
40.21
40.21
MRU1
399.32
399.32
MUR1
416.15
416.15
MVR1
929.58
929.58
MWK1
19.70
19.70
MXN1
752.53
752.53
MYR1
3,523.87
3,523.87
MZN1
242.04
242.04
NAD1
1,066.69
1,066.69
NGN1
39.87
39.87
NIO1
451.74
451.74
NOK1
1,750.19
1,750.19
NPR1
130.73
130.73
NZD1
9,743.25
9,743.25
OMR1
37,191.12
37,191.12
PAB1
14,315.68
14,315.68
PEN1
4,371.20
4,371.20
PGK1
4,364.12
4,364.12
PHP1
268.74
268.74
PKR1
111.56
111.56
PLN1
3,885.64
3,885.64
PYG1
2.51
2.51
QAR1
3,931.69
3,931.69
RON1
3,605.78
3,605.78
RSD1
142.30
142.30
RUB1
225.54
225.54
RWF1
16.47
16.47
SAR1
3,817.46
3,817.46
SBD1
1,815.32
1,815.32
SCR1
1,057.95
1,057.95
SDG1
797.84
797.84
SEK1
1,617.18
1,617.18
SGD1
10,508.46
10,508.46
SHP1
18,800.80
18,800.80
SLL1
2.19
2.19
SOS1
24.91
24.91
SRD1
1,919.50
1,919.50
SSP1
109.89
109.89
STD1
0.68
0.68
STN1
675.26
675.26
SVC1
1,634.87
1,634.87
SYP1
27.79
27.79
SZL1
1,066.69
1,066.69
THB1
430.98
430.98
TJS1
1,530.97
1,530.97
TMT1
4,078.56
4,078.56
TND1
5,430.80
5,430.80
TOP1
6,154.79
6,154.79
TRY1
2,988.10
2,988.10
TTD1
2,125.58
2,125.58
TWD1
468.07
468.07
TZS1
6.28
6.28
UAH1
545.16
545.16
UGX1
3.85
3.85
USD1
14,315.68
14,315.68
UYU1
462.36
462.36
UZS1
1.83
1.83
VEF1
0.13
0.13
VND1
0.62
0.62
VUV1
131.22
131.22
WST1
5,521.10
5,521.10
XAF1
25.59
25.59
XAG1
222,091.17
222,091.17
XAU1
17,634,710.43
17,634,710.43
XCD1
5,297.10
5,297.10
XDR1
20,045.25
20,045.25
XOF1
25.59
25.59
XPD1
14,173,942.16
14,173,942.16
XPF1
140.70
140.70
XPT1
11,860,548.12
11,860,548.12
YER1
57.19
57.19
ZAR1
1,066.35
1,066.35
ZMW1
1,463.28
1,463.28
ZWL1
44.40
44.40
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