JAKARTA. Bank Indonesia (BI) has projected the country’s economic growth would reach 4.9 percent to 5 percent in the second quarter, slightly lower than its previous forecast of 5.1 percent. BI's economic and monetary policy executive director Juda Agung explained that the central bank’s lower projection was due to sluggish consumption and weak investment, particularly non-building investment. "Initially, we estimated Indonesia’s economy would grow at a rate slightly above 5 percent in the second quarter. In our latest assessment, we have estimated the economy will grow by between 4.9 to 5 percent,” Juda said in Jakarta on Thursday.
BI estimates economic growth lower than 5% in Q2
JAKARTA. Bank Indonesia (BI) has projected the country’s economic growth would reach 4.9 percent to 5 percent in the second quarter, slightly lower than its previous forecast of 5.1 percent. BI's economic and monetary policy executive director Juda Agung explained that the central bank’s lower projection was due to sluggish consumption and weak investment, particularly non-building investment. "Initially, we estimated Indonesia’s economy would grow at a rate slightly above 5 percent in the second quarter. In our latest assessment, we have estimated the economy will grow by between 4.9 to 5 percent,” Juda said in Jakarta on Thursday.