Economy

As the year comes to a close, Indonesia can look back on 2010 with no small degree of satisfaction. The economy is performing well, foreign investment is on the rise and there is continued political stability. However, concerns linger over rising inflation and the sustainability of the current growth cycle.

Indonesia’s economy is continuing to power ahead, with strong domestic growth and rising demand for export products. However, concerns remain over a potential inflation breakout due to overheated consumer spending fuelled by low interest rates.

Looking to continue its trend of major capital expenditures, the Nigerian government is planning a debut international bond sale. However, the country’s debt portfolio has reached an all-time high, and some are cautioning that Nigeria scale back borrowing.

The first successes of the recently established free trade agreement (FTA) between Brunei and India have become evident, with Indian experts identifying the Sultanate’s construction sector as a promising area for trade expansion. The sector offers Indian firms a chance to tap into one of the Bruneian economy’s major growth drivers, with a swathe of major construction projects either under way or on the drawing board.

The 17th ASEAN summit in Hanoi in October saw Brunei Darussalam taking steps to improve economic ties with several of its partners in the 10-member organisation, as well as with non-member states. The summit, the second held under Vietnam’s chairmanship, came at a crucial time for ASEAN as it seeks to build more internal economic integration while also strengthening its geostrategic role.

Qatar is ratcheting up its campaign to host the 2022 World Cup as the race nears an end. With a decision due on December 2, boosts have come in the shape of a successful staging of a friendly match between South American footballing giants, praise for the emirate’s green credentials and vocal support from none other than Manchester United manager Sir Alex Ferguson.