Like every other country, recession is marring scars in the Indonesian economy as well. This is visibly seen by the decline in the key stock market index, increase in inflation, and a slump in the Rupiah. The immediate result is seen in the official downgrading of the export target and GDP growth rate presumed for 2009.
This has adversely affected the hopes for export earnings for 2009. The stock and debt markets of Indonesia are prone to fluctuations on account of foreign investors. The Government has come up with many policy measures to aid the country to recover from the economic and financial crisis. During the G-20 summit, Indonesia urged for a global action to restore market confidence through liquidity provisions and a new architecture for global financial system.
The complete impact of the economic downturn will be felt by the country during March, which would be the period of election therein.
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Fibre2fashion News Desk - India
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