Having suffered a major economic setback along with most other Asian economies, Indonesia has braved numerous maladies in recent years. The country stomached a devalued currency, political unrest and a long dry season and rampant forest fires. It is safe to say that the Asian economic crisis may have hit Indonesia the hardest. In 1998 one in five jobs was lost. The crisis created a drop in industrial production, a reduction of public spending, and the omission and adjournment of a number of expansion projects. 1999 real GDP increased a mere 0.23% over 1998, according to data released by the Central Bureau of Statistics in February 2000. The figures show fourth quarter 1999 GDP up 5.8% from fourth quarter 1998. Real GDP declined 14% in 1998.
