Sabtu, 27 Juli 2019

Economic Conditions in Indonesia


BI Admits the Rate of Indonesian Economy Slows

Jakarta, CNN Indonesia - Bank Indonesia ( BI ) acknowledges that  Indonesia's economic growth has shown signs of slowing down. This is indicated by the sluggish performance of the trade balance , 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.



Economic Conditions in Indonesia

BI Admits the Rate of Indonesian Economy Slows Jakarta, CNN Indonesia - Bank Indonesia (  B I  ) acknowledges that  Indonesia'...