TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Bank Indonesia revises down GDP growth projection in 2019
Bank Indonesia Governor Perry Warjoyo announced on Tuesday the revision of its gross domestic product (GDP) projection for 2019 to between 5 and 5.4 percent from its initial projection of between 5.1 and 5.5 percent.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Bank Indonesia Governor Perry Warjiyo (Antara/Sigid Kurniawan)
B
ank Indonesia (BI) Governor Perry Warjoyo announced on Tuesday the revision of its gross domestic product (GDP) projection for 2019 to between 5 and 5.4 percent from its initial projection of between 5.1 and 5.5 percent.
The new midpoint projection is 5.2 percent.
“Economic growth will be supported by strong domestic spending and investment,” Perry said in his speech at BI's annual meeting in Jakarta.
The projection considered the government’s efforts to control imports and boost exports as well as increase tourist arrivals.
Meanwhile, inflation is estimated at 3.5 percent in 2019 on account of controllable market demand, volatile food and administered prices and the stable exchange rate of the rupiah.
The current account deficit was projected to decline to 2.5 percent of GDP from the current position of above 3 percent.
Credit growth is estimated at between 10 and 12 percent, while financing through third-party funds was expected to grow between 8 and 10 percent. (bbn)
