Asian Development Bank and Indonesia: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Indonesia as well as concise information on ADB's operations in the country and contact information. Indonesia has experienced an increasingly strong economic expansion since recovering from the 1997 Asian financial crisis. Economic growth accelerated to a 10-year high of 6.3% in 2007 and a respectable 6.1% in 2008, despite unstable global financial markets and a slowing world economy. At the end of July 2008, international reserves rose to an all-time high of $60.6 billion before the Government intervened heavily in currency markets in October 2008. By year end, reserves had fallen back to 2007 levels at $51.6 billion. The overall deficit for 2008 was only 0.1% of gross domestic product (GDP) due to strong revenue growth. Indonesia’s debt-to-GDP ratio has continuously declined from 55% in 2004 to 35% in 2007, then down to about 32% by the end of 2008.