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.

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