Although there are some uncertainties, the Indonesian economy is well placed for what will now almost certainly be a sharp downturn in the world economy.
Foreign reserves were at a record high at just under US$120 billion at the end of the second quarter, inflation was down to below 5 per cent, investment up significantly, and growth steady at 6.5 per cent year on year. Certainly, macroeconomic policymakers are not ignoring the potential impact of another global recession; but Indonesia seems relatively unaffected by the immediate- to medium-term impacts of the US’s much slower-than-expected recovery in August and the ongoing debt crisis in Europe.
Not only has the economy been doing well but the government is now beginning to think much more about how to mobilise its large population base, abundant natural resources and strategic location for longer term development, as Indonesia prepares to play a greater role in the world economy.
God has blessed Indonesia with excellent resources. You are also blessed to be the world largest Islamic nation. But your human right records in terms of freedom of religion is worse after Pakistan. Respect freedom of religion to continue derive God’s grace and to avoid disasters like flooding and Tsunamis.