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Bali Operating Above the Economic Fray

Bank Indonesia Predicts Bali May Largely Evade Fallout from the World Economic Crisis

(2/10/2012) The chief of the Bali branch of Bank Indonesia, Jeffrey Kairupan, is optimistic that the economic development of Bali in 2012 will generally outpace the national predicted rate of growth for 2012 of 6.5%.

Quoted by Radar Bali, Kairupan told the media on Monday, February 6, 2012, that policymakers must pay serious attention to the worsening economic crisis in Europe and its possible effect on the national economy.

The Bank Indonesia official said there was cause for optimism in Bali due to the availability of credit to business people in Bali.

In addition, he cited further reasons of optimism in the growing level of investment in Bali supported by steps underway to improve the infrastructure on the island, such as the expansion of Bali’s Ngurah Rai Airport.

Such optimism, he said, must be tempered, however, by with a cautious outlook on the global economic crisis, which may eventually also be felt in Bali.