Asian Growth to Decline

Countries in East Asia more than ready to face this crisis when compared with 1997 when the financial crisis engulf Asia. However, no country in the area who escape from the storm terpaan global economic crisis this year.It is mentioned in the report on the economy, the World Bank East Asia and the Pacific issued in Tokyo, Wednesday (10/12). Economy of developed countries, such as the United States, the European zone, and Japan, is projected terkontraksi next year.

For Indonesia, the World Bank predicts economic growth will slip down from 6 percent in 2008 to be 4.4 percent in 2009. In 2010 Indonesia's economic growth is projected to recover to the 6 percent figure. Investment is estimated to be the most important result of the crisis this time.

Indonesia's export volume growth projected slowing from 14 percent in 2008 to only grow 1-2 percent in 2009, before the numbers recover to 8 percent in 2010. Investment is estimated to grow not in 2009, but grew 7 percent in 2010.

The only positive impact of the global crisis is slowing the rate of inflation, which helped the real income of salaried permanent residents. After completing 10 percent in 2008, the inflation rate of around 7 percent in 2009 and 6 percent in 2010.

Australian Prime Minister Kevin Rudd in Bali promised to help Indonesia overcome the crisis as the provision of reserve funds, which reached 5 billion U.S. dollars, or around Rp 50 trillion.

President Susilo Bambang Yudhoyono grateful for the assistance. President plans to use the funds if the financial crisis in Indonesia.

Can be changed quickly

World Bank senior economist for East Asia and Pacific, Vikram Nehru, warned that the situation will change rapidly toward a good or bad overnight.

Asia facing weaker exports and decrease consumption and investment so that real economic growth in China, Indonesia, the Philippines, Thailand, Vietnam, Cambodia, Laos, Mongolia, Papua Niugini and islands in the Pacific region dropped to 6.7 percent in 2009 from the 8, 6 percent in 2008. Growth for East Asian countries overall, including Korea, Singapore, Hong Kong, and Malaysia, will be down 5.3 percent from 7 percent this year.

World Bank mentioned the risk, Asia is large enough in the short term, but the position of countries is better if you can maintain a balance of macro stability, change the purpose of export to the rapidly developing areas in other regions, replacing the role of export menggenjot with domestic demand, and continue structural reforms to enhance the level of competition.

World Bank Vice President for East Asia and the Pacific Jim Adams said, "I appreciate the quick action of leaders from every East Asian countries. This helps East Asia operations and make Asia a role to become the motor of growth for the global economy. "