McNicholas said that he would not be surprised to see the slowdown continue into as late as the second quarter of 2013, although he expressed optimism that Indonesia’s economy would see a significant pick-up afterward.Ī stronger recovery in the US and an improving situation in Europe by the second half would support increased growth rates in Indonesia, according to McNicholas.

The GDP slowdown had been expected by Fitch, McNicholas added, citing macroeconomic prudential measures implemented by Bank Indonesia (BI) in mid-2012 to limit growth in the consumer sector, such as the central bank’s move to increase the minimum loan-to-value ratio for vehicle loans, among other things. But it’s still a quite good performance relative to the global pinch,” McNicholas said.

“It’s not what people have been used to, given the track record for the past five or six years.

“Slipping from 6 percent to 5.5, or even 5 percent, is not the end of the world for Indonesia,” Philip McNicholas, the director of Asia-Pacific sovereigns with Fitch Ratings, said in Jakarta on Wednesday. The slowdown kept the country’s annual growth rate at 6.23 percent in 2012, which was lower than the government’s initial target of 6.5 percent. The slowdown in the fourth quarter was attributed to a surge in investment and domestic consumption that could not counter the fall in the nation’s exports.

The international ratings agency made its statement after Indonesia announced that it booked 6.1 percent growth in its gross domestic product (GDP) during the fourth quarter of 2012, its smallest increase in the last two years.įitch Ratings said that the GDP dip was not worrisome, despite concerns from local analysts that growth might slow further given an absence of signs that a solid recovery was underway for the global economy. Investors should not be deterred by a slowdown in economic growth rates in Indonesia, according to Fitch Ratings, which described growth in Southeast Asia’s largest economy as “positive”. Oleh Edy Can – Kamis, 07 Februari 2013 | 10:03 WIB Fitch touts RI to investors, despite slowdown

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