IMF: RI economy strongest in ASEAN

Jakarta (ANTARA News) - Indonesia is the strongest in terms of economic fundamentals among ASEAN`s member states with a gross domestic product (GDP) expected to reach 6.4 percent this year, the International Monetary Fund (IMF) said.

The figure was the highest among ASEAN member states such as Malaysia, the Philippines, Singapore, Thailand and Vietnam, IMF Senior Resident Representative for Indonesia Milan Zavadjil said here on Monday.

"In 2011, Malaysia`s GDP was projected to reach 5.2 percent, the Philippines 4.7 percent, Singapore 5.3 percent, Thailand 3.5 percent and Vietnam 5.8 percent," he said.

He said Indonesia`s GDP was expected to fall 0.1 percent to 6.3 percent in 2012 from the previous year. Yet the figure would be the highest in ASEAN.

Overall, GDP in Asia will drop 0.2 percent to 7.7 percent in 2012 from 7.9 percent the year before, he said.

"The drop was caused by the global economic slowdown," he said.

He said the drop in GDP was because most Asian countries were very dependent on the export market.

"Most of demand for Asian export commodities comes from the United States and Europe," he said.

According to IMF`s observations, Indonesia still could raise its GDP by improving its investment climate and increasing budget spending on infrastructure development.(*)