Thu, 11 Feb 2010

Indonesia on Wednesday announced better than expected figures for 2009 growth in gross domestic product, making it one of the fastest growing economies in the G20 group of nations.

Indonesia posted 4.5 per cent annual GDP growth for 2009, down from 6.1 per cent in 2008. Fourth-quarter growth was 5.4 per cent year-on-year, the fastest level since the third quarter of 2008. The economy has held convincingly on to positive ground throughout the financial crisis and seen growth accelerate in the fourth quarter.

Wellian Wiranto, HSBC economist, said, “Overall, 2009 will be remembered as the year in which the Indonesian economy outperformed expectations and stayed resilient amidst a challenging global environment.”