Indonesia Economic Quarterly, December 2013 : Slower Growth, High Risks

Indonesia Economic Quarterly, December 2013 : Slower Growth, High Risks

The Indonesia Economic Quarterly (IEQ) has two main aims. First, it reports on the key developments over the past three months in Indonesia's economy, and places these in a longer-term and global context. Based on these developments, and on po...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING ASSET PRICE ASSET PRICES ASSETS BALANCE OF PAYMENTS BALANCE OF PAYMENTS DEFICIT BALANCE SHEETS BANK CREDIT BANK NOTE BANKING SECTOR BASIS POINTS BILL BOND MARKET BOND SPREADS BOND YIELDS BORROWING COSTS CAPITAL FLOWS CAPITAL FORMATION CAPITAL GOODS CAPITAL GOODS IMPORTS CAPITAL INFLOWS CENTRAL BANK CHECKS COMMERCIAL BANK COMMERCIAL BANK LENDING COMMODITY PRICE COMMODITY PRICES CONSUMER INFLATION CONSUMER PRICE INDEX CONSUMPTION BASKET CONSUMPTION EXPENDITURE CONSUMPTION GOODS CONSUMPTION GROWTH CORE INFLATION CORPORATE BOND CREDIT GROWTH CREDIT LIMITS CURRENCY CURRENCY DEMAND CURRENCY DEPRECIATION CURRENCY INFLOWS CURRENCY MARKET CURRENCY MISMATCHES CURRENCY RISKS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT REPAYMENTS DEBT SERVICING DECENTRALIZATION DEPOSIT DEPOSITS DEPRECIATION DEPRESSING EFFECT DEVELOPING COUNTRY DIRECT INVESTMENT DISBURSEMENT DISINFLATION DOLLAR PRICE DOLLAR VALUE DOMESTIC BANK DOMESTIC BANKING SECTOR DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC DEMAND DOMESTIC DEMAND GROWTH DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICES DOWNWARD PRESSURE ECONOMIC CONDITIONS ECONOMIC DISRUPTION ECONOMIC GROWTH ECONOMIC POLICY ECONOMIC RISKS EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EQUILIBRIUM EQUILIBRIUM LEVEL EQUIPMENT EQUITY INDICES EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATE VOLATILITY EXPORT COMMODITIES EXPORT COMPETITIVENESS EXPORT EARNINGS EXPORT PERFORMANCE EXPORT VOLUMES EXPORTERS EXPOSURE EXTERNAL BALANCE EXTERNAL BALANCES EXTERNAL DEBT EXTERNAL DEMAND EXTERNAL FINANCING FEDERAL RESERVE FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL STABILITY FINANCING REQUIREMENTS FISCAL DEFICIT FISCAL POLICY FISCAL REFORMS FLEXIBLE EXCHANGE RATE FOOD PRICE FOOD PRICES FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY LENDING FOREIGN CURRENCY LOANS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTOR FOREIGN RESERVES GLOBAL DEMAND GLOBAL ECONOMY GLOBAL LIQUIDITY GLOBAL MARKET GOVERNMENT BONDS GOVERNMENT DEBT GROSS DOMESTIC PRODUCT GROWTH PERFORMANCE GROWTH RATE GROWTH RATES IMPORT IMPORT COMPRESSION IMPORT COSTS IMPORT DEMAND IMPORT GROWTH IMPORT PRICES IMPORTS INCOME GENERATION INCOME GROWTH INFLATION INTEREST RATE INTERNATIONAL BANK INTERNATIONAL COMPETITIVENESS INTERNATIONAL FINANCIAL MARKET INTERNATIONAL MARKET INTERNATIONAL PRICES INVESTMENT CLIMATE INVESTMENT INFLOWS INVESTMENT POLICY INVESTMENT SPENDING INVESTOR CONFIDENCE LABOR FORCE LABOR MARKET LIQUIDITY CONDITIONS LOCAL CAPACITY LOCAL CURRENCY LOCAL CURRENCY LOANS MACROECONOMIC ADJUSTMENTS MACROECONOMIC STABILITY MARKET DEVELOPMENTS MARKET LIQUIDITY MARKET PARTICIPANTS MARKET SHARE MARKET TURNOVER MONETARY CONDITIONS MONETARY POLICY MORTGAGE MORTGAGES NATURAL RESOURCE NOMINAL DEPRECIATION OIL PRICES OUTPUT GAPS PORTFOLIO PORTFOLIO INVESTMENT POVERTY REDUCTION PRICE HIKE PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE INFLATION PRIVATE CONSUMPTION PUBLIC EXPENDITURE PUBLIC INVESTMENT REAL DEPRECIATION REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE RECESSION RELATIVE PRICE SAFETY NET SHORT-TERM RATES SLOWDOWN SOVEREIGN DEBT SPOT MARKET SPOT RATE STOCK PRICES STRUCTURAL REFORM SUPPLY-SIDE SURPLUS TARIFF INCREASES TAX TOTAL EXPORT TOTAL EXPORT REVENUES TOTAL EXPORTS TOTAL EXTERNAL DEBT TOTAL IMPORT TOTAL IMPORTS TRADE BALANCE TRADE BALANCES TRADE DATA TRADE DEFICIT TRADE FACILITATION TRADE RESTRICTIONS TRADE SURPLUS TRADING TRADING PARTNER TRADING PARTNERS UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT RATE UPWARD PRESSURE
Online Access:	http://documents.worldbank.org/curated/en/2013/12/18807417/indonesia-economic-quarterly-slower-growth-high-risks http://hdl.handle.net/10986/17609

Description
Summary:	The Indonesia Economic Quarterly (IEQ) has two main aims. First, it reports on the key developments over the past three months in Indonesia's economy, and places these in a longer-term and global context. Based on these developments, and on policy changes over the period, the IEQ regularly updates the outlook for Indonesia's economy and social welfare. Second, the IEQ provides a more in-depth examination of selected economic and policy issues, and analysis of Indonesia's medium-term development challenges. This document summarizes the findings of the IEQ for the last quarter of 2013. The final quarter has seen the continuing adjustment of the Indonesian economy to more subdued commodity prices and tighter external financing conditions, and to the related pressures on external balances. Policies have responded, particularly through tighter monetary conditions, the currency has depreciated substantially in real terms, and investment spending and output growth have weakened. These developments are broadly supportive of continued macroeconomic stability, including by helping to lower the current account deficit, although their impact continues to play out, adding additional uncertainty to the path of the domestic economy. At the same time, the international environment is also shifting, with global growth expected to improve, bringing potential policy changes, notably in US monetary policy, which could add to the pressures on Indonesia's external financing position. In light of the slower pace of growth, and the risks facing the economy, there is a strong need for Indonesia to augment the recent macro focus on tighter monetary policy, exchange rate adjustment and import compression, with deeper reforms to lift export performance and support investment inflows.

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