Economic growth unlikely to be affected by rise in oil prices.

By bne IntelliNews March 11, 2011
Indonesia's economy is unlikely to be affected this year by increase in oil prices world wide. As reported by LKBN Antara, according to the data released, although the world oil price in Asia was recorded around USD 105 per barrel, it would not hamper the country's economic growth this year. The country's Gross Domestic Product (GDP) is likely to continue increasing 6.6% this year as it was characterized by robust domestic demand, despite the global oil price instability. The economy grew 6.9% y/y in the fourth quarter of last year. It is being noticed that the contribution of net exports was larger than forecasted and was followed by increased consumption and investment.

Related Articles

Hong Kong's composite interest rate registered 0.25% in February

Hong Kong's composite interest rate declined 3 basis points (bps) registering 0.25% in February this year. As reported by News.gov.hk, the decrease in the composite rates was due to the decline ... more

Thailand's government expected to promote export-oriented SMEs.

Thailand's government is likely to offer financial support for export-oriented small- and medium-sized enterprises (SMEs) and the indigenous industry, resulting in an increase in volume and value ... more

Small companies concerned about various government incentive schemes.

Singapore's small businesses are expected to be having concerns regarding the new and diverse government incentive schemes, which were announced in the recent Budget. As reported by ... more

Dismiss