TEMPO.CO, Jakarta - Australia and New Zeland Banking Group (ANZ) President Director Joseph Abraham forecasted that Indonesian consumption will increase in 2014 as the consumer confidence index has been rising.

"It is reflected by the emergence of middle-class people in Indonesia," he said during the ANZ-Roy Morgan Consumer Confidence Index launching at Hotel Mulia, yesterday.

A research conducted by ANZ-Roy Morgan showed that Indonesian consumer confidence reached 151.5 points in January 2014, or increased by 0.5 percent compared to the previous month. According to Abraham, Indonesians are getting more confident with their financial condition that it would encourage consumption.

Gleen Maguire, chief economist for the Asia-Pacific region at ANZ, believed that Indonesia's economy will improve in the next five years. In addition 79 percent of Indonesian people will have an improved financial condition a year ahead as Indonesia has survived from the Federal Reserve's tapering off.

Maguire added that there are 75 million middle-class consumers in Indonesia, which will increase by 10 million per year for the next 10 years.

GALVAN YUDHISTIRA