Indonesian economy grew by 6.2% in 2008

Saturday, 3 January 2009
The Jakarta Post

The Ministry of Finance announced Saturday that the country’s economy grew by 6.2 percent last year despite enormous pressure from the global liquidity crisis.

A ministry spokesperson, Harry Z. Soeratin, explained that the economic expansion was lower than the 6.4 percent growth that the government had sought. However, he said it was relatively understandable considering last year’s global financial turbulence.

He also said that the price inflation in 2008 was still within desired level. It reached 11.4 percent by the end of the year, he said.

“We have been able to achieve inflation at 11.4 percent thanks to the government's decision to lower subsidized fuel prices and enough food supply throughout the year,” he said. (ewd)