ECONITAdvisory Group on Economic Industry and Trade (Indonesia)
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ECONIT, a consulting bureau, is even more pessimistic, projecting a contraction of 4%.
To do business, Nike contractors and other foreign companies had to pay enormous bribes to Suharto's inner circle (up to 30 per cent of total operating costs, according to the ECONIT Advisory Group, a Jakarta-based consulting firm).
Arif Arryman, an analyst at Econit, a private economic advisory body, however, said the credibility of the Wahid-Megawati team will depend on the quality of the cabinet they form.