Foreign loans of Indonesia's private sectors double in H1

16:27, August 12, 2010      

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The amount of foreign loans of Indonesia's private sector nearly doubled in the first half of 2010 year on year, as companies spent more for business expansion, local media reported Thursday.

The Jakarta Post reported that the central bank data showed foreign loans of the private sector in the first six months of this year jumped 92.4 percent to 15.7 billion U.S. dollars from 8. 2 billion U.S. dollars in the same period of last year. Most of firms listed at the Jakarta Stock Exchange show a good performance in the first half by registering high profits.

Indonesia' economy grew 5.9 percent in the first half, higher than 4.2 percent in the same period last year. "The relatively high jump compared to last year is due to a contraction in the first half of 2009 regarding the subprime mortgage crisis," central bank spokesman Difi A. Johansyah said.

Indonesia registered the highest growth in the world after China and India during the first half of 2009.

Indonesian Finance Minister Agus Martowardojo has said that the economy is seen to accelerate at 5.9 percent this year but, the National Statistic Agency has said that it may exceed the target as the exports and investment in the country's with over 230 million population predicted to rebound this year.

The spokesman said that the number of loan in the first half reflected growing interest from foreign investors in Indonesia's private sector.

Strong fundamentals with modest growth and expectation to investment grade rated by most of rating agencies, have made Indonesia the best investment destination in the region.



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