RI`s economic growth second highest in the world

"Compared with other countries in the world, our economic growth rate will be much higher. We will be second only to China," said Perry Warjiyo
Jakarta (ANTARA News) - Indonesia`s economic growth rate, projected to reach 6.3 percent at the end of this year, will be the second highest in the world after China`s 7.8 percent, according to Bank Indonesia (BI).

"Compared with other countries in the world, our economic growth rate will be much higher. We will be second only to China," said Perry Warjiyo, the central bank`s director for economic research and monetary policy, here on Friday.

He stated that the Indonesian economy would grow at a relatively high level of 6.3 percent this year, although it would be less than the 6.4 percent growth seen in 2011.

Earlier, the central bank had predicted that the national economy would expand in a range of 6.1 percent to 6.5 percent in 2012, before rising to 6.3-6.7 percent next year.

However, the global economy is expected to grow by 3.1 percent this year, down from the previously projected 3.2 percent.

"Indonesia`s economic growth is expected to fall this year from 6.4 percent to 6.3 percent because of the global economic crisis, which has begun to affect the country`s exports," Perry explained.

"Growth this year is expected to be fueled by strong domestic consumption and investment in the third quarter, which are projected to increase by 5.1 percent and 10.9 percent, respectively," he added.(*)

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