The World Bank has said that it is upbeat about Indonesia’s economic growth prospects despite a US slowdown and high oil prices, predicting 6.4 percent expansion in 2008.

Domestic consumption and investment should compensate for a global slowdown in export growth enabling Southeast Asia’s largest economy to top this year’s 6.3 percent expansion, the bank said in its six-monthly regional analysis.

“Consumption, investment, exports… these are all pretty positive signs that things look very positive going forward,” the report’s lead author Milan Brahmbhatt told a teleconference from Washington.