BI: Economic Growth Can not 5.3 Percent

By : Herry Barus And Aldo Bella Putra | Thursday, May 24 2018 - 20:30 IWST

Perry Warjiyo Gubernur Bank Indonesia (Foto Dok Industry.co.id)
Perry Warjiyo Gubernur Bank Indonesia (Foto Dok Industry.co.id)

INDUSTRY.co.id - Jakarta - Bank Indonesia's new governor Perry Warjiyo said domestic economic growth in 2018 could not reach 5.3 percent (year-on-year / yoy).

After swearing the oath of office as Governor of Bank Indonesia at the Supreme Court, Jakarta, Thursday (5/24/2018) Perry said that Indonesia's economic growth this year reaches a maximum of 5.2 percent (yoy).

"Indeed we want higher, but there are some aspects of the domestic economy that have not been able to push up to 5.3-5.4 percent, but 5.2 percent is good enough," said Perry who spent his last five years as Deputy Governor of BI.

The Central Bank wants to anchor economic growth this year in the range of 5.1-5.5 percent (yoy). However, until the first quarter of 2018, the economic growth only reached 5.06 percent (yoy), with consumption growth still slowing.

Perry, who has always campaigned for monetary policy and prostability, emphasized that in the remainder of the year BI will continue to prioritize monetary policy to maintain economic stability. However, BI will not neglect if there is an opportunity for the Central Bank to adjust its policies to boost economic growth.

"One of our monetary policy instruments will be to maintain stability, but we have four instruments for pro-growth," he said.

The first four instruments are macroprudential policy relaxation, in which is the policy for relaxation in the field of housing finance. Then, the two macroprudential policies to accelerate the deepening of financial markets.

"This deepening financial market includes issuing infrastructure financing instruments," he said.

Third, the payment system policy to improve the efficiency and effectiveness of national digital economy.

Furthermore, the fourth is to strengthen the acceleration of Islamic finance and economics, including building a halal product industry, and developing educational research and sharia economic campaigns.

News Comment

Today's Industry

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…