A World Bank Economist, Timothy Bulman, said that Indonesia's economy has returned back on track following a period of lower growth last year due to the global economic crisis, a local media reported on Friday.

Tomothy said that the country's economy is almost ready to return to the boom conditions prior to the 1998 financial crisis, when the Gross Domestic Product (GDP) growth often reached between 7 to 8 percent.

"The real economy has returned back to solid growth," he was quoted by the Jakarta Post as saying in a seminar held by the Institute for Development of Economics and Finance (INDEF) on Thursday.

The World Bank estimates the growth rate would increase to 5.6 percent this year, and to reach 6 percent in 2011, up from 4.5 percent in 2009.

The bank is also upbeat that the country's anticipated export volume is expected to return to pre-crisis levels during 2010, as the world economy gradually recovers and commodity prices rise.

Timothy suggests Indonesia creates a more conducive investment climate to attract both foreign and local investors, so that economic investment activities could contribute more significantly to the country's economic growth.

"Indonesia has to be aggressive in facilitating domestic and foreign investment," Timothy said.

According to Timothy, besides investments, Indonesia is ready for and needs breakthrough like easing transport and logistic bottlenecks and connecting Indonesia's domestic market to the region's.

(Xinhua News Agency January 29, 2010)