VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

President Joko Widodo has underlined improvement of confidence in Indonesia`s economy as three main rating companies have upgraded the country`s sovereign bond ratings to investment grade. "The improvement of confidence should be utilized," Joko Widodo said here on Wednesday.

Three main rating companies : S&P Global Ratings, Moody`s Investors Service and Fitch Ratings have a positive outlook on their assessments of the nation`s debt. Based on the World Bank`s latest report, Indonesia ranked 72nd out of 190 countries in the 2018 Ease of Doing Business. This means Indonesia rose by 19 positions from 2017 when Indonesia was ranked 91st

Indonesia`s nominal gross domestic product was at Rp 13,558 trillion, or US$1 trillion in the 2017 exchange rate. This has placed Indonesia in a group of countries with economies above US$1 trillion, like Australia, South Korea and India. President said "Indonesia`s economy is in good condition".

Based on data of The Investment Coordinating Board (BKPM), Indonesia`s economic growth would still mainly be driven by domestic consumption and investment. Until the third quarter of 2017, investment in Indonesia amounted to Rp 513.2 trillion, constituting 75.6 percent of the government`s target of Rp 678.8 trillion. In addition, the government has proposed a growth target at 5.4 (yoy), while Bank Indonesia offered the growth range of 5.1 to 5.5 percent. ( antara )