Jakarta (Antara Bali) - Leading economist predicted that countrys
economy would rebound in 2016 after hitting the rock bottom.
"I think, we are already hitting the bottom. Now the condition is
improving and the people are having greater confidence," Toni
Prasetiantono from the state University of Gadjah Mada (UGM), said.
In 2015, the countrys economy grew 4.79 percent and in the last
quarter of that year, the economy grew stronger by 5.04 percent crossing
the psychological level, Tony said here on Tuesday.
Improvement in the peoples confidence was indicated in car sales
that exceeded 1 million units in 2015 higher than previous estimate of
950,000 units, he said.
He said the falling value of rupiah against the U.S. dollar once
forced the people to curb consumption, but now gradually the people are
more relaxed.
"The worst period when rupiah weakened to a level of more than 14,000 per dollar has been over," he said.
In addition the rise in the fund rate of the U.S. Central Bank has
ceased to be a specter of global uncertainty, even if the Fed still
continues raising its fund rate gradually, he said.
Tony, however, cautioned the government against a host of
challenges this year especially as a result of the shrinking oil prices
that already fell to below US$30 per barrel.
He said continued fall of the oil price could result in investors putting off plans for oil investment and explorations.
"No one could say that the price could no longer sink lower. We
dont know the rock bottom for oil price . The IMF predicted that the oil
price would dive as low as US$15 per barrel," he said.(WDY)
Related News
Indonesia to weather global turbulence in 2018-2019: ADB
Wednesday, 26 September 2018 13:55
2019, Indonesia's economic growth target set at 5.4-5.8 percent
Saturday, 19 Mei 2018 10:58
Domestic factors cause rupiah`s strengthening: BI
Thursday, 4 Januari 2018 9:41
Bali`s Economy Predicted To Grow 6.19 - 6.59 Percent
Thursday, 22 Juni 2017 19:15
Indonesia's Economy Grows More Than 5 Percent in 2016
Saturday, 31 Desember 2016 19:23
Indonesia Has Positive Economy: Japan Bank CEO
Friday, 21 Oktober 2016 17:39
Jokowi Believes Indonesia Can Become SE Asia`s Largest Digital Economy
Wednesday, 28 September 2016 8:04
BI Confident Economy to Grow 5.2 Percent
Friday, 23 September 2016 8:00
TPP Beneficial For Indonesia's Economy: Vietnam
Thursday, 11 Agustus 2016 9:28
Bank Indonesia Predicts Indonesia's Economy Will Grow By 5,09 Percent in 2016
Saturday, 30 Juli 2016 8:38
Indonesia's Economy Improves: Bank Of Indonesia
Friday, 29 Juli 2016 9:53
ADB Forecasts Indonesia's Economy To Grow 5.2 Percent In 2016
Tuesday, 19 Juli 2016 14:49