BI Admits the Rate of Indonesian Economy Slows
Jakarta, CNN Indonesia - Bank Indonesia ( )
acknowledges that Indonesia's has
shown signs of slowing down. This is indicated by the sluggish performance
of the ,
both exports and imports.
Senior BI Deputy Governor Mirza Adityaswara explained
that the slowing pace of the Indonesian economy had at least been seen from the
declining export performance in the first half of this year. Data from the
Central Statistics Agency (BPS) recorded that the export value in June 2019 only reached US $ 11.78 billion.
The realization fell by around 20.54 percent from May 2019 and fell 8.98
percent from June 2018. Meanwhile, the cumulative realization of exports from
January to June 2019 was US $ 80.32 billion, down 8.57 percent from January to
June 2018.
Similarly, imports. The June 2019
import performance was US $ 11.58 billion, down 20.7 percent from the previous
month. Cumulatively, imports from January to June 2019 fell 7.63 percent
from the same period last year to US $ 82.26 billion.
"The slowdown in imports shows a slowdown in economic activity, as well as
exports," Mirza said at the BI Building Complex, Jakarta, Tuesday (7/23).
This signal of an economic slowdown has caused the national central bank to
lower the country's economic growth forecast this year to below 5.2 percent. Though
initially BI estimated the economy would grow to 5.4 percent.
"The GDP (gross domestic product / economic growth) that we originally
said was in the range of 5.0-5.4 percent, later it would be below that
midpoint," he said.
