Indonesia: Recent Economic Developments

International Monetary Fund

No 1996/092, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Indonesia during 1994–96. Following the easing of domestic demand pressures, the focus of monetary policy shifted in early 1993/94 to supporting economic growth, as concerns developed over an incipient weakening of export performance and output. At the same time, the fiscal position was strengthened. Reflecting the strong growth in non-oil/gas revenue, the overall central government deficit, excluding oil/gas revenue, declined by 2 percentage points of GDP. With the shift in monetary policy, interest rates declined rapidly, and there was a strong pickup in credit to the private sector.

Keywords: ISCR; CR; exchange rate; broad money; working capital; private sector; real GDP; fiscal year; debt service; foreign currency; current account; Exports; Imports; Oil; Credit; North America; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 119
Date: 1996-09-06
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