Bank Indonesia Predicts 5.1 percent growth | Invest Islands

Bank Indonesia Predicts 5.1 percent growth

In the first quarter, Bank Indonesia said, the economic growth could reach 5.01 percent increase, from the fourth quarter of 2016 at 4.94 percent.

This increase from the last quarter is due to better export performances and government spending. According to him, better export is attributable to hike in commodity prices, such as coal and rubber.

The Governor of Bank Indonesia Agus Martowarojo has predicted 5.1 percent growth in the second quarter of 2017. If achieved, he said, the second and third quarter may see 5.2 percent growth. “The first quarter also grew higher compared to the previous one,” he said after the meeting of Bank Indonesia Governor Council.

Agus added that rupiah has strengthened throughout the first quarter until April, inclusive. In the first quarter, the rupiah strengthened 1.1 basis points to 13,326 per US dollar. According to him, rupiah is relatively stable due to sustained capital inflows, in line with a better outlook for sovereign ratings, positive macroeconomic data and positive sentiments to Indonesia’s economic prospects. “Inflation remains under control and at the range of 4+/- percentage points.

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