I still can’t believe that they still continue making shopping malls in Surabaya. We use to have only 3 big malls in Surabaya when I was in high school. But now maybe ten or more. Is it a sign of economic growth? I mean with the projected inflation rate of 18% by the end of the year, who will supply these malls with shop owners and buyers?
Indeed in one of the newest malls, the Pakuwon mall, I can see that there are plenty of empty shops without occupants yet, ant the mall has been around for about a year. And yet there are still other malls to be built, who’s going the rent the space? Mom has a theory, that the business ppl borrowed build the malls so that they can borrow money from the bank (they’d borrow more than needed to build) and that’s all that they have in their mind. I hope that’s not the case.
Given the increase numbers of malls and also with the inflation, I am quite intriqued in finding that people still flogging these malls. And one thing I found, the number of the native indos shopping in these malls are now quite significant, usually only mostly the chinese descent that are shopping and shopping in these malls :p. So maybe this a good sign of economic growth. The number of beggars and pengamen are also decreasing I think, I don’t see them as much on the traffic lights.
I am confused, theoritically speaking, we Indonesians are supposed to be poorer now, but in the street it doesn’t seem to be that way. I’m also quite surprised that there were no big demonstrations or riots due to the increase in oil price (thank God, been praying for this). Some say, it’s because the president chose the announcement at the right time, that is one day before fasting month (clever eh :P).
Oh well, with only 10 days in Indonesia, what can you conclude from that short of a visit.
The impact of oil price increase has not been felt yet. It’s when PLN starts increasing their electricity tariff, when production cost creeps up, living cost goes up but people’s income stay the same.
Also, this is only the last increase, I believe another price increase is planned for early next year.
poor ppl and beggar are not there (Yet), since this is still in the time of idul fitri, everyone is going back to their hometown (pulang kampong.. hehehe) should check it out some time after new year and there we go 🙂
theory may be true, economic growth is about 3~4%, inflation.. 18%, to be smart, get the money now (from wherever), rather than latter, as it will have less value. interest rate ~12% before tax,so.. better build mall rather than put money in banks.. (try luck rather than sure loss)
Welcome back Felix! 🙂