16 Aug '11, 8am

Indonesia's growth set to accelerate

JAKARTA: Indonesia's economic growth is likely to continue accelerating, reaching 6.6 percent this year despite the latest bout of global turmoil, Bank Indonesia said Tuesday. The forecast is slightly higher than the government's official target of 6.5 percent growth. "I'm optimistic that despite what's been going on lately, our economic growth will reach 6.6 percent this year, especially as (direct) investment increases," Bank Indonesia governor Darmin Nasution said, in a reference to eurozone debt fears and growing worries over a double-dip recession in the US. Southeast Asia's biggest economy grew close to 6.5 percent from a year earlier in both the first and second quarters this year after expanding 6.1 percent in 2010. Indonesian President Susilo Bambang Yudhoyono said despite the economic situation in Europe and the United States, Indonesia had enough self confidence...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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