Indonesia’s Domestic Strength Counters European Debt Turmoil
Indonesia’s growth probably exceeded 6 per cent for a fifth quarter as domestic demand helped Southeast Asia’s largest economy withstand the European debt turmoil that hurt exports across Asia. GDP increased 6.45 per cent in the fourth quarter from a year earlier, according to median estimates in a Bloomberg News survey. Bank Indonesia is also expected to keep its benchmark rate at a record-low 6 per cent. Two rate cuts in the last quarter aided President Susilo Bambang Yudhoyono’s efforts to increase GDP by an average 6.6 per cent a year. The country regained investment-grade rating from Moody’s Investors Service and Fitch Ratings for the first time since the Asian financial crisis in recent weeks, boosting investment prospects as it plans transport and utility projects. Indonesia’s policymakers have also signalled they are prepared to support the economy with monetary and fiscal stimulus as Europe’s protracted sovereign-debt crisis threatens global expansion and crimps demand for Asian exports.
Insuring that Roof over Your Head - Part 1 A mortgage may be the biggest financial liability that we may be required to bear in our lifetime. Yet why do many homeowners fail to protect their homes?
