Indonesia‘s Economic Growth Anomaly
In the midst of a global economy condition crisis hit Indonesia‘s economic growth, the record showed positive results. In the second quarter of this year compared with the same period of last year, Indonesia’s economy grew about 6.4 percent. This growth remains still terpust in Java with the growth amounted to 57.5 percent. If the accumulated economic growth of Indonesia, the first half of the year 2012 is better compared to the first half of the year grew about 6.3 percent.
However, Indonesia‘s economic growth is considered anomalous experience. This is revealed by Salamuddin Daeng, Indonesia‘s economic observer for Global Justice. He reasoned, economic growth is not followed by an increase in welfare of society. Further, at least explain daeng four factors that make Indonesia experienced an economic anomaly. First, Indonesia‘s economy is driven by many foreign debt whose value continues to rise. “Indonesia’s debt reached Rp. 2865 trillion. The Government’s foreign debt increased every year. This debt became the main source of income of the Government and became the driving force of economic growth of Indonesia, “said Daeng.
Secondly, an increase in Community consumption of allegedly taking part encourage Indonesia‘s economic growth. Community consumption which increased the price of clothing and food are rising, as well as sustained by loan growth especially credit consumption. Third, Indonesia‘s economic growth is driven by exports of raw materials, such as the results of oil and gas, forests, plantations and mines, resulting in less creates added value and jobs. The last factor, Indonesia‘s economic growth fueled by foreign investment that makes Indonesia the more natural resources controlled by foreigners.
Meanwhile, A Tony Prasetiantono, the economic Observer from Gadjah Mada University, Indonesia‘s economic growth argued, supported by the domestic sector. According to him, the effects of the global crisis through the trading balance deficit and the decline in exports will be felt on the third and fourth quarter of this year. He considers the contribution of exports to GDP is not great.
Similar with that of Mirza Adityaswara, Economist delivered, that a number of economic sectors in the country are growing because low interest rates supported by the. This appears to be from loan growth which reached 26-28 percent at once driven by low fuel prices because it is still subsidized by the Government. It further revealed that Mirza, domestic-oriented sectors experiencing growth is high, such as automotive, manufacturing, transportation, communications and trade. As a result, the growth in domestic-oriented sector resulted in a trade balance deficit trend getting bigger.
The Repeated Affirmation:
According to Tony, greater government spending and rapid growth is also very helpful. As it was, the inflation rate is below 5 percent was quite helpful, though it is no effect, i.e. the value of energy subsidies that continue to swell that actually tends to be unsanitary.