JAKARTA. Bank Indonesia has predicted loan growth in the banking industry to hit 12 to 14 percent next year, higher than this year’s expected 11 percent. Bank Indonesia governor Agus Martowardojo was optimistic that the global economy would improve in 2016. Government and private investment as well as public consumption are expected to spur economic growth next year. "The current [target of] 11 percent will increase to 12 to 14 percent next year, while third-party fund growth is expected to reach 13 to 15 percent. It will be good for Indonesia's economic growth in 2016 as funding and financing will be sufficient," said Agus after Bank Indonesia’s annual meeting in Jakarta on Tuesday.
BI predicts 12%-14% loan growth in 2016
JAKARTA. Bank Indonesia has predicted loan growth in the banking industry to hit 12 to 14 percent next year, higher than this year’s expected 11 percent. Bank Indonesia governor Agus Martowardojo was optimistic that the global economy would improve in 2016. Government and private investment as well as public consumption are expected to spur economic growth next year. "The current [target of] 11 percent will increase to 12 to 14 percent next year, while third-party fund growth is expected to reach 13 to 15 percent. It will be good for Indonesia's economic growth in 2016 as funding and financing will be sufficient," said Agus after Bank Indonesia’s annual meeting in Jakarta on Tuesday.