@Indonesia:Economy
Economy-overview: While Indonesia was long touted for its sound macroeconomic management and spectacular growth, the Asian financial crisis in 1997/98 revealed the weak underpinnings of the economy: an unhealthy banking sector, untenable levels of private foreign debt, and uncompetitive practices that favored the financial interests of former President SOEHARTO's family and friends. Indonesia sought IMF assistance early in the crisis and eventually brokered a $42 billion bailout package; but Jakarta jeopardized the program by resisting strict IMF reforms, partly in response to the rupiah's collapse, which lost as much as 80% of its value at one point. Economic prospects look bleak for 1998: the economy probably will shrink between 4% to 10%, unemployment top historic highs-in excess of 15%-and inflation move toward hyper levels.
GDP: purchasing power parity-$960 billion (1997 est.)
GDP-real growth rate: 4% (1997 est.)
GDP-per capita: purchasing power parity-$4,600 (1997 est.)
GDP-composition by sector: agriculture: 16% industry: 43% services: 41% (1996)
Inflation rate-consumer price index: 50% (1998 est.)
Labor force: total: 67 million by occupation: agriculture 44%, manufacturing 13%, construction 5%, transport and communications 4%, other 34% (1995 est.)
Unemployment rate: 15%; underemployment 50% (1998 est.)
Budget: revenues: $42.8 billion expenditures: $42.8 billion, including capital expenditures of $14.4 billion (FY97/98 est.)