The Indonesian economy stabilized in 1999,
following the sharp contraction and high inflation of 1998. By
following tight monetary policy, the government reduced inflation from
over 70% in 1998 to 2% in 1999. Although interest rates spiked as high
as 70% in response to the monetary contraction, they fell rapidly to
the 10% to 15% range. The economy stopped its free-fall as GDP showed
some growth in the second half of 1999, although GDP for the year as a
whole showed no growth. The government managed to recapitalize a
handful of private banks and has begun recapitalizing the state-owned
banking sector. New lending, however, remains almost unavailable as
banks continue to be wary of issuing new debt in an environment where
little progress has been made in restructuring the huge burden of
outstanding debts. IMF payments were suspended late in 1999 as the
result of evidence that a private bank had illegally funneled payments
it received from the government to one of the political parties. The
government has forecast growth of 3.8% for FY00/01. The spread of
sectarian violence and continuing dissatisfaction with the pace of
bank and debt restructuring will make it difficult for Indonesia to
attract the private investment necessary to achieve this goal.

purchasing power parity - $610 billion (1999 est.)

0% (1999 est.)

purchasing power parity - $2,800 (1999 est.)

agriculture: 21%
industry: 35%
services: 44% (1999 est.)

NA%

lowest 10%: 3.6%
highest 10%: 30.3% (1996)

2% (1999 est.)

88 million (1998)

agriculture 45%, trade, restaurant, and
hotel 19%, manufacturing 11%, transport and communications 5%,
construction 4% (1998)

15%-20% (1998 est.)

revenues: $25.4 billion (of which $6 billion is from international
financial institutions)
expenditures: $25.4 billion, including capital expenditures of $NA
(FY99/00 est.)

petroleum and natural gas; textiles, apparel, and
footwear; mining, cement, chemical fertilizers, plywood; rubber; food;
tourism

1.5% (1999 est.)

73.13 billion kWh (1998)

fossil fuel: 88.19%
hydro: 8.39%
nuclear: 0%
other: 3.42% (1998)

68.011 billion kWh (1998)

0 kWh (1998)

0 kWh (1998)

rice, cassava (tapioca), peanuts, rubber,
cocoa, coffee, palm oil, copra; poultry, beef, pork, eggs

$48 billion (f.o.b., 1999 est.)

oil and gas, plywood, textiles, rubber

Japan 18%, EU 15%, US 14%, Singapore 13%, South
Korea 5%, Hong Kong 4%, China 4%, Taiwan 3% (1999 est.)

$24 billion (c.i.f., 1999 est.)

machinery and equipment; chemicals, fuels,
foodstuffs

Japan 17%, US 13%, Singapore 10%, Germany 9%,
Australia 6%, South Korea 5%, Taiwan 3%, China 3% (1999 est.)

$140 billion (1998 est.)

$43 billion from IMF program and other
official external financing (1997-2000)

Indonesian rupiah (Rp) = 100 sen

Indonesian rupiahs (Rp) per US$1 - 7,278.8 (January
2000), 7,855.2 (1999), 10,013.6 (1998), 2,909.4 (1997), 2,342.3
(1996), 2,248.6 (1995)

1 April - 31 March