JAKARTA. The domestic economic will be stagnant if the local governments do not optimize the budget spending. In facts, the locals’ idle funds just piled up in the banks. Data from the Ministry of Finance show that the locals’ funds stored in the bank by October 2016 amounted to Rp 206.85 trillion. This amount is slightly higher than September, which amounted to Rp 206.75 trillion. As much as 58% of the funds are deposited in current accounts, while other 40% in deposit accounts. "About 60% -70% of the funds parked in regional development banks, and others in state-owned banks," said Head of Risk Economy and Financial System Group of the Deposit Insurance Agency Mohammed Dody Arifianto, Thursday (1/12)
Local govts' idle funds piled up in banks
JAKARTA. The domestic economic will be stagnant if the local governments do not optimize the budget spending. In facts, the locals’ idle funds just piled up in the banks. Data from the Ministry of Finance show that the locals’ funds stored in the bank by October 2016 amounted to Rp 206.85 trillion. This amount is slightly higher than September, which amounted to Rp 206.75 trillion. As much as 58% of the funds are deposited in current accounts, while other 40% in deposit accounts. "About 60% -70% of the funds parked in regional development banks, and others in state-owned banks," said Head of Risk Economy and Financial System Group of the Deposit Insurance Agency Mohammed Dody Arifianto, Thursday (1/12)