Indonesia lowers their expectations in the wake of global slowdown

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Bank Indonesia has lowered their initial 2012 economic growth forecast in anticipation of a global financial slowdown.

Deputy Governor Halim Alamsyah stated that the alteration was mainly due to a reduction in exports and domestic demand in general.

“It’s possible to reach growth between 6.3% and 6.5% next year if there is acceleration of fiscal expansion,” Alamsyah stated recently.

Projections by the Central Bank suggest that gross domestic product (GDP) will expand by approximately 6.3% next year. This represents an adjustment from their initial prediction of 6.7%.

Unsurprisingly, the Euro-zone debt crisis and the general slowdown in the United States are being blamed for the lowering of expectations.

It is still impossible to predict how much collective damage these two separate incidents will have on global economies. The ripple effect they have created could yet last for a number of years.

Countries such as Indonesia are a good example of nations who had little to do with these problems, but now find themselves suffering the consequences.

The planet is littered with such examples and the most frustrating element is that all they can do is watch the issues as they develop and hope that these major economies get back on their feet as soon as possible.

If they fail to do so, the potential consequences are stark indeed. The world is now watching both the U.S.A and Europe in the hope that a global solution can be found to a pair of regional problems.

Transferring money to Indonesia

If you are looking to invest in Indonesia, think carefully about how you will be transferring money to Indonesia. Foreign currency exchange rates quoted by banks are not always the best way to send money abroad.

So if you are sending money to Indonesia – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Indonesia lowers their expectations in the wake of global slowdown

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