The Jakarta Post
The Investment Coordinating Board (BKPM) announced on Tuesday that investment growth was recorded at 3.1 percent year-on-year (yoy) in the second quarter, compared to 12 percent yoy in the corresponding period, last year.
Second quarter investment reached Rp 176.3 trillion (US$12.05 billion), 4.9 percent lower than investment in the previous quarter, which stood at Rp 185.3 trillion.
With the latest figure, total investment from January to June reached Rp 361.6 trillion, less than half the total annual target of Rp 765 trillion.
Speaking during a press conference, BKPM head Thomas Lembong said the slowdown would likely continue amid the rupiah volatility, current-account deficit and trade deficit, putting investors in wait-and-see mode.
However, he said, his office would not change the investment target for the next six months.
“With the ongoing slowdown, of course the attempts to achieve the 2018 target will become harder. However, I believe the government will never stop introducing breakthrough measures to counter the negative effects of currency and emerging nations’ stock market instability,” he added (bbn)