Thursday, 22 October 2020 | 04:45 WIB

BI: Indonesia Sees 5.8-6.2 Percent Economic Growth in 2019

BI Governor Agus Martowardjojo gave a speech at BI Annual Meeting.

JAKARTA, NETRALNEWS.COM - The Governor of Bank Indonesia Agus DW Martowardojo said the prospect of Indonesia's economy in the future at the Annual Meeting of Bank Indonesia of 2017, at Assembly Hall 1 and 2 of Jakarta Convention Center (JCC), Jakarta, Tuesday (11/28/2017) night.

The growth of global economy and that of commodity price are expected to increase gradually.

"The world interest rates are expected to increase, in line with the trend of tightened monetary policy in developed countries. The growth of economy in 2018 is believed around 5.1-5.5 percent, especially driven by domestic demands," he said.

He said inflation in 2018 is expected to be in the target range of 3.5 + one percent. Third party fund growth and 2018 bank credit are estimated at 9-11 percent and 10-12 percent, respectively.

Meanwhile, the current account deficit, although estimated slightly increased, is still below three percent of GDP.

Meanwhile, in the period 2019-2022, economic growth is expected to rise to a range of 5.8-6.2 percent in 2022, with inflation at three plus one percent and current account deficit declining and remaining below three percent of GDP.

"In the midst of various challenges, we cannot prioritize sectoral interests, but need to equate the view and continue to work together to unite the movement in future," he said.

Although able to note the strengthening amid the global economic recovery that lasted throughout 2017, Agus said, global and domestic challenges still overshadow the Indonesian economy.

Therefore, all stakeholders need to continue efforts to strengthen the recovery momentum, with progressive economic policies. "In this case, the policy should be oriented to the future, sustainable and synergized, as well as balanced," he said.