UBS says Indonesia's economic growth to reach 6 percent in 2010, 2011

JAKARTA, Oct. 28, 2009 (Xinhua News Agency) -- Spurred by strong domestic demands, increasing government spending and presumed-stable security and political condition, Indonesian economic growth would reach 6 percent in 2010 and 2011, UBS (NYSE:UBS) said on Wednesday. 28, 2009 (Xinhua News Agency) - spurred by strong domestic demands, increasing government spending and Presumed-stable security and political condition, Indonesian economic growth would reach 6 percent in 2010 and 2011, UBS (NYSE: UBS) said on Wednesday.

Speaking in a session to convey his outlook on Indonesia's economy in 2010, Edward Teather, the UBS Executive Director and Senior Economist at Singapore-based UBS ASEAN Research office, said that Indonesia's growth forecast is based on improving confidence along with the pro-growth policies on the part of President Susilo Bambang Yudhoyono who was re-elected. Speaking in a session to Convey his outlook on Indonesia's economy in 2010, Edward Teather, the UBS Executive Director and Senior Economist at UBS Singapore-based ASEAN Research Office, said that Indonesia's growth forecast is based on improving confidence along with the pro-growth policies on the part of President Susilo Bambang Yudhoyono who was re-elected.

"We expect Indonesia to record a less exciting, but relatively stable, economic growth profile through 2011," the senior analyst at the Swiss-based financial and investment institution said. "We expect Indonesia to record a less exciting, but Relatively stable, economic growth profile through 2011," the senior analyst at the Swiss-based financial and investment institution said.

He added that Indonesia's improving economic growth in the following years would be greatly affected by the global economy that started to be recovered from the crisis that has been lingering since late last year. He added that Indonesia's improving economic growth in the following years would be greatly affected by the global economy that started to be recovered from the crisis that has been lingering since late last year.

On the part of Indonesia, the economic recovery has been starting in the last few months with indicators seen in the increasing sales of motorcycles, household electricity and cements in domestic market, Edward added. On the part of Indonesia, the economic recovery has been starting in the last few months with indicators seen in the increasing sales of motorcycles, household electricity and cements in domestic market, added Edward.

With less dependence on export, he said that Indonesian economic growth would be one of the highest in Asian economies other than China and India, the two Asia's emerging economy countries. With less dependence on exports, he said that Indonesian economic growth would be one of the highest in Asian economies other than China and India, the two of Asia's emerging economy countries.

Furthermore Edward estimated that Indonesia's Gross Domestic Product (GDP) growth would reach 4 percent this year and continue to be increasing up to 5.3 percent in 2010. Furthermore Edward estimated that Indonesia's Gross Domestic Product (GDP) growth would reach 4 percent this year and continue to be increasing up to 5.3 percent in 2010.

Apart from that, the UBS senior analyst estimated that Indonesia's inflation rate on Consumer Price Index (CPI) basis would reach at a range of 4 to 6 percent in 2010 at the latest, with regular inflation would increase from 2.4 in September this year to 7 percent by the end of 2010. Apart from that, the UBS senior analyst estimated that Indonesia's inflation rate on Consumer Price Index (CPI) would reach base at a range of 4 to 6 percent in 2010 at the latest, with the regular inflation would increase from 2.4 in September this year to 7 percent by the end of 2010.
(Source: iStockAnalyst ) (Source: iStockAnalyst)

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