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JAKARTA - Foreign investment in Indonesia is projected to reach more than $19 billion this year, local media quoted Bank Indonesia officials as saying on Saturday.
Halim Alamsyah, the Deputy Governor of Bank Indonesia, told the Antara news agency that the bank expects between $19.1 and $19.2 billion in foreign investment this year due to the country's improved investment climate and its higher rating to investment grade.
If foreign investment reaches $19 billion this year, this would represent an increase of about $5 billion from last year. However, with Europe's deteriorating economic condition, adding to the fact that Indonesia has yet to reach the AAA category, foreign investment in portfolio such as shares and bonds could decline significantly from $5.8 billion to $3.7 billion.
Noting Indonesia's firm economic growth and stable macro economy in 2011, Bank Indonesia Governor Darmin Nasution said exports of developing countries such as Indonesia could be affected by the global economy, according to Antara.
Economic growth in Indonesia during the fourth quarter of 2011 is expected to reach 6.5 percent as household consumption and investments have remained strong despite sluggish export rates.
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