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Library Indonesia Economic Quarterly, July 2014 : Hard Choices

Indonesia Economic Quarterly, July 2014 : Hard Choices

Indonesia Economic Quarterly, July 2014 : Hard Choices

Resource information

Date of publication
december 2014
Resource Language
ISBN / Resource ID
oai:openknowledge.worldbank.org:10986/20805

The Indonesia Economic Quarterly (IEQ)
has two main objectives. 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. It is intended for a
wide audience, including policymakers, business leaders,
financial market participants, and the community of analysts
and professionals engaged in Indonesia's evolving
economy. As Indonesians await the results of a presidential
election on July 9, 2014 and plan for the upcoming
inauguration of a new president in October, they face hard
policy choices. The past decade of solid growth has
contributed to considerable development progress. Indonesia
now has the world's tenth largest economy in purchasing
power parity-adjusted terms; however, there remains a clear
risk that the recent moderation in economic growth could
intensify. Against a backdrop of weakening revenue growth
and rising energy subsidy spending, this would further
constrain development expenditures in critical areas such as
infrastructure, social protection and health. The new
government will face an evolving global environment, which
is expected to pick up speed later this year. The price of
Indonesia's top six exports, accounting for 50 percent
of total export revenues, continues to soften, falling by
8.6 percent in 2014 through June, led by coal (down 15.2
percent). The recent volatility of oil prices, due in part
to the turmoil in Iraq, highlights the ongoing vulnerability
of Indonesia's fiscal position to higher international
oil prices. Real GDP growth in Indonesia moderated to 5.2
percent year-on-year and 4.3 percent quarter-on-quarter at a
seasonally-adjusted annualized rate in the first quarter of
2014. Safeguarding hard-fought poverty reduction and social
protection progress in Indonesia also calls for enhancing
the management of disaster risks. This edition of the IEQ
examines one such disaster risk: forest and land fires.

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