'Global slowdown would be limited in Indonesia'

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JAKARTA, Jan 2 (AFP): Any global economic slowdown would have a limited impact on Indonesia's growth this year, President Susilo Bambang Yudhoyono said today.
Yudhoyono told a gathering at the Indonesian Stock Exchange on the first trading day of the year that the domestic economy was now more resilient to external shocks.
"Our economic fundamentals are okay. We're able to weather the impact of the subprime crisis and high crude oil prices," he said.
The banking system in Southeast Asia's largest economy does not have any exposure to the US subprime mortgage market, Yudhoyono said.
In 2008 Indonesia would still face volatile global markets and oil prices as well as increasing inflationary pressures, he said.