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Indonesia: Bank Indonesia: Domestic Economy Remains Sluggish in Q2-2016
Indonesia: Bank Indonesia: Domestic Economy Remains Sluggish in Q2-2016
Mon, 11 July 2016 – The central bank of Indonesia (Bank Indonesia) expects Indonesia’s economic growth to reach between 4.9 and 5.0 percent (y/y) in the second quarter of 2016, only rising slightly from GDP growth realization of 4.92 percent in the first quarter. Growth is forecast to remain subdued as Indonesia’s household consumption has not improved markedly yet (reflected by low demand for credit). Meanwhile, the global economic context remains plagued by uncertainties, particularly ongoing concern about the economies of the USA, China and Europe.
Mirza Adityaswara, Deputy Governor at Bank Indonesia, says the Indonesian economy is highly dependent on the global economy, especially now the domestic engine of economic growth – household consumption (accounting for about 58 percent of the nation’s total economic growth) – remains growing at a subdued pace. But with the global economy having been under pressure, there is limited room for Indonesia to see markedly accelerated Read More?