Indonesian central bank, Bank Indonesia (BI), forecasted the country’s economic growth to mount between 6.0 to 6.5% in Y 2011 and 6.1 to 6.6% in 2011, a statement issued by BI said Wednesday.
“This performance will be supported with a more balanced growth structure, with investment forging ahead and continued solid performance in exports,” the central bank said in the statement.
BI expects the economy to grow at a brisk 6.4%, with investment likely to take on an enlarged role in building the capacity of the economy.
“At the sectoral level, high growth is predicted in all economic sectors, led by transportation and communications sector, the trade, hotels and restaurants sector and the construction sector”, said the central bank.
The Indonesian currency weakened 0.2 percent to 8,673 per dollar as of 9:44 a.m. in Jakarta, according to data compiled by Bloomberg. The rupiah has gained 3.5 percent in 2011.
The currency’s appreciation may continue this year, Bank Indonesia Governor Darmin Nasution told reporters in Jakarta yesterday.
Still, the central bank wants to ensure the currency won’t strengthen too fast, Deputy Governor Hartadi Sarwono said at the same briefing.
Paul A. Ebeling, Jnr.
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