World Bank confident of Indonesia despite pressures

jakartaThe World Bank says Indonesia can cope with current economic pressures due to its strong economic fundamentals and fiscal policy, according to a statement released on November 8.

“Over the past decade, the world has seen Indonesia emerge as a dynamic middle-income country, thanks to its strong macro-economic fundamentals and prudent fiscal management. The World Bank is confident that Indonesia will overcome the current pressures affecting the rupiah and will remain resilient against external volatility,” said Rodrigo Chaves, newly appointed World Bank country director for Indonesia, The Jakarta Post reported.

Although resilient, economic growth in Indonesia is moderating, reflecting a dip in investment, in commodity prices, as well as in domestic consumption.

Indonesia’s current account deficit also continues to widen, with imports increasing at a faster pace than exports. But recent policy shifts, such as the reduction in fuel subsidies, are positive developments that will help Indonesia bounce back.

“Indonesia’s economy is adjusting to short-term uncertainty. But the country’s growth prospects are undisputed, particularly if long-term development plans and public policies boost investment on the expansion of labour skills and of infrastructure,” Chaves said.

Chaves leads a program in Indonesia that includes a portfolio of 37 active operations, with $8 billion of net commitments in lending as of August 2013, with programs ranging from support for community-driven development, to geothermal energy expansion and early childhood education services.



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The World Bank says Indonesia can cope with current economic pressures due to its strong economic fundamentals and fiscal policy, according to a statement released on November 8. "Over the past decade, the world has seen Indonesia emerge as a dynamic middle-income country, thanks to its strong macro-economic fundamentals and prudent fiscal management. The World Bank is confident that Indonesia will overcome the current pressures affecting the rupiah and will remain resilient against external volatility," said Rodrigo Chaves, newly appointed World Bank country director for Indonesia, The Jakarta Post reported. Although resilient, economic growth in Indonesia is moderating, reflecting a dip...

jakartaThe World Bank says Indonesia can cope with current economic pressures due to its strong economic fundamentals and fiscal policy, according to a statement released on November 8.

“Over the past decade, the world has seen Indonesia emerge as a dynamic middle-income country, thanks to its strong macro-economic fundamentals and prudent fiscal management. The World Bank is confident that Indonesia will overcome the current pressures affecting the rupiah and will remain resilient against external volatility,” said Rodrigo Chaves, newly appointed World Bank country director for Indonesia, The Jakarta Post reported.

Although resilient, economic growth in Indonesia is moderating, reflecting a dip in investment, in commodity prices, as well as in domestic consumption.

Indonesia’s current account deficit also continues to widen, with imports increasing at a faster pace than exports. But recent policy shifts, such as the reduction in fuel subsidies, are positive developments that will help Indonesia bounce back.

“Indonesia’s economy is adjusting to short-term uncertainty. But the country’s growth prospects are undisputed, particularly if long-term development plans and public policies boost investment on the expansion of labour skills and of infrastructure,” Chaves said.

Chaves leads a program in Indonesia that includes a portfolio of 37 active operations, with $8 billion of net commitments in lending as of August 2013, with programs ranging from support for community-driven development, to geothermal energy expansion and early childhood education services.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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