"The upgraded debt rating suggests that the Indonesian macro economic condition is getting more stable," President Director of PT Bank UOB for Indonesia Armand B. Arief said on the sidelines of a seminar on economic outlook 2012 here on Thursday night.
The Indonesian economy would withstand the global crisis with strong domestic consumption, improving income of middle-class people and export performance being the engine of economic growth, he said.
"Indonesia`s debt rating which has been upgraded to investment grade will create large opportunities for the Indonesian market because it will make the Indonesian position stronger in the eyes of domestic and global investors and will encourage them to expand their businesses," he said.
Economist Chatib Basri said he believed the current global economic recession would not have a significant impact on the Indonesian economy thanks to the country`s large market which can contribute to the gross domestic product.
"The Indonesian economy is expected to grow at a range of 5.5-6.5 percent in 2012 with the inflation rate of 4-5 percent which is considered relatively stable," he said. (*)
Editor: Kunto Wibisono
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