blog.indahnesia.com - Discover Indonesia Online

    
You are currently in > Just a blog about Indonesia > Bank Indonesia revises down economic growth target


Bank Indonesia revises down economic growth target JAKARTA - Bank Indonesia (BI) revised down its prediction of economic growth in 2014, from its initial 5.5-5.9 percent to 5.1-5.5 percent. "The factor that had made us revise the economic growth target down is the revision of export performance," BI governor Agus Martowardojo said at a press conference here on Thursday.

He said initially BI predicted that real exports (goods and services) would grow 8.1- 8.5 percent but in reality in the first quarter the growth of real exports was lower between 1.5 percent and 1.9 percent.

"The drop in the real exports was caused by three factors, namely slow domestic demand, low price of export commodities and impact of the implementation of the law on minerals and coal," he said.

Based on Bank Indonesia's assessment, global economic recovery is still continuing. Improvement in global economic conditions is primarily driven by economic conditions in advanced countries, such as the United States and Europe, as the impact of the monetary stimulus is still continuing. The improvement in the global economic conditions had led to an increase in the volume of world trade, he explained.

"However, China's growth had slowed after it implemented a policy to balance its economy. The price of commodities also tended to decline, especially that of rubber, copper and coal," he said.

In the future, he said, Bank Indonesia will continue monitoring different risks from global economic development, especially those that come from normalization of the Federal policy and China's slow economic growth.

Indonesia's economy in the first quarter slowed due to contraction of real exports. The country's economy grew 5.21 percent in the first quarter year-on-year, down from 5.72 percent in the fourth quarter of 2013 and from Bank Indonesia's initial forecast.

The contraction of real exports was mainly caused by a decline in mining exports, such as coal and mineral concentrate among others, due to weak demand, especially from China, and a price drop and the temporary impact of the ban on raw mineral exports.

The slow consumption by the government, meanwhile, had also contributed to the slowing down of the economic growth. Household consumption and investment, however, still grew and bolstered economic growth in the first quarter of 2014.

Household consumption growth was boosted by consumers' confidence that remained strong and the impact of the legislative election on April 9.

Investments had also increased marginally driven by non-construction investments that grew, especially machinery investments, while construction investment had slowed down.

"In line with the moderation of domestic demand, real imports had also slowed but could not balance the contraction in real exports so that it could not improve net export performance," he said.


Related blog entries (category 'Economy') Related blog entries (category 'Economy'):
05 May 2014 · No alcohol should be sold in warung
05 May 2014 · Bali governor would like to see ten milion as minimum wage
07 April 2014 · Indonesia's economy predicted to grow 5.8 percent in Q1
06 April 2014 · Official: 'Indonesia needs to anticipate ASEAN Open Sky Policy'
16 March 2014 · Wiranto starts election campaign in Blitar
01 March 2014 · Prabowo: 'Agriculture more important than economic concerns'

Related blog entries (category 'Economy') Tags: BI, economic, growth, forecast, revised, downwards


Posted in Economy @ 08 May 2014 21:23 CET by Blog Bot · 'Blog' RSS feed · permalink






There are no reactions on this blog entry yet. Be the first one to give a reaction here!


Log in to write a reaction

You are not logged in to the website. You have to be logged in to write a reaction on this blog entry.

· If you already have an account, please login.
· If you have lost your password, please retrieve it.
· If you don't have an account yet, you can create one.

    
 ABOUT THIS ENTRY
Add this blog entry to your email, your own blog, MySpace, Facebook, or whatsoever via AddThis:
Bookmark and Share

e-mail updates for this blog article

Login if you want to receive emails for reactions on this blog entry. You will receive an update as soon as a reaction on this blog entry is posted.

Your website for tickets in Indonesia!
Looking for e-tickets for flights in Indonesia? Here's your solution! Order your e-tickets at ticketindonesia.info.
 FOLLOW US ON TWITTER
 BLOG ARCHIVE
· 2015, 28 entries
· 2014, 591 entries
· 2013, 750 entries
· 2012, 1061 entries
· 2011, 792 entries
· 2010, 644 entries
· 2009, 916 entries
· 2008, 504 entries
· 2007, 725 entries
· 2006, 1014 entries
· 2005, 723 entries
· 2004, 558 entries
· 2003, 525 entries
· 2002, 375 entries
· 2001, 162 entries
 POPULAR TAGS
· gigolo
· jakarta
· blogger
Automatically generated every hour
 BLOG CATEGORIES
· General (1205 entries)
· Economy (643 entries)
· Politics (574 entries)
· Accidents (561 entries)
· Terrorism (541 entries)
· Earthquake (539 entries)
· Volcanoes (387 entries)
· Crime (357 entries)
· Corruption (349 entries)
· Flooding (278 entries)
· Elections (276 entries)
· Travel (268 entries)
· Bird Flu (254 entries)
· Religion (242 entries)
· Tourism (239 entries)
· Oddly enough ... (219 entries)
· Violence (198 entries)
· Drugs (196 entries)
· Health (192 entries)
· Aceh conflict (191 entries)
· Environment (185 entries)
· Weather (171 entries)
· Military (168 entries)
· Protests (157 entries)
· Culture (106 entries)
· Garuda Indonesia (91 entries)
· C. Sulawesi conflict (86 entries)
· Human rights (82 entries)
· Forest fires (78 entries)
· Sidoarjo mudflow (71 entries)
· Power supply (64 entries)
· Ramadan (63 entries)
· PT Freeport (55 entries)
· Picture guess (48 entries)
· Maluku conflict (47 entries)
· Dengue Fever (37 entries)
· History (37 entries)
· Infrastructure (36 entries)
· Polio (35 entries)
· Mexican flu (35 entries)
· Website (25 entries)
· Media (22 entries)
· Nuclear power (21 entries)
· Sports (20 entries)
· Sexy (16 entries)
· SARS (15 entries)
· Nightlife (10 entries)
· Others (5 entries)
· Lippo Cikarang (5 entries)
· Close smallest categories
 EXCHANGE RATES
EUR-IDR: 15,983 · 15,984  The Rupiah rate declined since yesterday
@ 23 Nov 2017 15:11 CET
JPY-IDR: 121.40 · 121.42  The Rupiah rate declined since yesterday
@ 23 Nov 2017 13:21 CET
MYR-IDR: 3,285 · 3,286  The Rupiah rate declined since yesterday
@ 23 Nov 2017 13:19 CET
SGD-IDR: 10,022 · 10,025  The Rupiah rate improved since yesterday
@ 23 Nov 2017 15:42 CET
THB-IDR: 412.92 · 413.09  The Rupiah rate declined since yesterday
@ 23 Nov 2017 15:42 CET
USD-IDR: 13,498 · 13,499  The Rupiah rate declined since yesterday
@ 23 Nov 2017 13:12 CET
Go to 'exchange rates' 
 MOST RECENT REACTIONS
·  At 19 October 2015 17:17 imambudianto5 reacted on Bank Indonesia maintains benchmark interest rate at 7.75%
·  At 04 March 2015 19:18 merdekaSah reacted on Alleged terrorists shot dead three villagers in Poso
·  At 04 March 2015 13:11 Yogya-Bali reacted on Alleged terrorists shot dead three villagers in Poso
·  At 26 February 2015 13:02 Irena reacted on Sexy, a young woman with candy
·  At 08 May 2014 09:51 jstar reacted on No alcohol should be sold in warung
·  At 01 May 2014 10:07 jstar reacted on Indonesia to be among the top 10 peacekeeping contributors
·  At 27 March 2014 05:50 harlys reacted on PPP leader voices concern over Islamic parties' future
·  At 10 March 2014 06:11 Yogya-Bali reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 09 March 2014 00:11 Yerun reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 08 March 2014 20:33 nicknick reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 18 February 2014 04:17 Yerun reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 16 February 2014 05:41 Amed East Bali reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 14 February 2014 22:27 Anne Mieke reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 14 February 2014 22:22 beritaislam reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 16 January 2014 15:37 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:21 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:05 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:48 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:41 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:29 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
Go to 'forum topics' 

Created by indahnesia.com · feedback & contact · © 2000-2017
Other websites by indahnesia.com: ticketindonesia.info · kamus-online.com · indonesiepagina.nl · suvono.nl

Valid HTML 4.01 Transitional 92,472,499 pageviews Discover Indonesia Online at indahnesia.com