The World Bank on Monday projected Indonesia's economy to expand by 6.2 percent this year amid strong domestic consumption, the bank said on a statement on Monday.

"Economic resilience has been Indonesia's strength despite a weaker global economy," says Stefan Koeberle, World Bank Country Director for Indonesia.

"With the right policies in place, Indonesia could push growth, harnessing the forces of urbanization and rising incomes, while providing quality jobs for a growing labor force," he said in a statement in the bank website.

The world bank forecasts the Southeast Asia's largest economy to grow faster by 6.5 percent next year.

The Indonesian government expects the economy to expand by 6.8 percent this year. The central bank expects the inflation in 2013 to be in check between 3.5 percent and 5.5 percent.

Indonesia is homed by about 238 million people with emerging middle class and growing wealth that push buying power.

Besides, the recent credit rating upgrade to investment grade by Moody's and Fitch's help luring global funds managers to place capitals into Indonesia.

Huge population and growing investment have offset decline in the country's exports. Endi

Go to Forum >>0 Comment(s)