JAKARTA, Jan. 17 (Xinhua) -- The World Bank (WB), assessed that Indonesia was among countries managed to prevail the crisis in 2016.
WB Country Director for Indonesia Rodrigo Chaves said that Indonesia was capable to pass through the year which was still marred with ensuing global downturn, loomed with uncertainties and concerns over results of election in the United States that qualified Donald Trump to hold presidency in one of World's economy powerhouse.
"Credible global uncertainties have emerged in the last few months. All countries in the world were affected, but Indonesia has been adequately capable to pass through it well," Chaves said in his remarks in the launching of WB's latest economy report on Indonesia here on Tuesday.
Chaves said that Indonesia's resiliency in addressing the crisis last year can be seen in minor depreciation on its currency exchange value against the United States' Dollar as well as in its composite index which was less decreased if compared to that of in other countries.
Such a situation was rarely seen in other developing countries which mostly suffered in the last year's crisis, he said, adding that emerging economy countries like Brazil and Russia had to struggle hard in dealing with the crisis.
According to the report released by WB, Indonesian currency exchange value against the U.S. Dollar was only depreciated three percent in the fourth quarter last year.
The Southeast Asia's largest economy saw its composite index had partially recovered after fell 3.6 percent, the report said.
Other indicator that made Indonesia prevailed in 2016 crisis was its inflation that stood at an average of 3.02 percent, or far below the assumption set in the state budget, thanks to government's capability to control the prices of staple food and fuels.
It made Indonesia may see 5.1 percent growth in 2016, spurred by public consumption and investment, the report said.
The report also said that Indonesian government was capable in pertinently controlling the state budget last year, resulted in 2.46 percent deficit or below WB's initial estimate that stood at 2.8 percent.
Such a sound outcome was closely related to the success of government's tax amnesty program, according to the report.
WB also praised government's economy reform initiative, manifested in the issuance of 14 reform packages that highly facilitate investors intending to invest in Indonesia.
