JAKARTA, Bank Indonesia Deputy Governor Hartadi A Sarwono said he believed with inflationary pressures now decreasing, the year-on-year inflation rate in June could reach around five percent. "The inflation rate, according to our prediction, will be corrected more deeply in June because there was a fuel price hike in May last year that caused a monetary shock. We estimate the inflation rate in June will be around five percent," he said.
Regarding economic growth, he said BI was still estimating it will reach three to four percent. He said there had been signs of recovery in the past few months.
"In the past few months there have been early signs of economic recovery. In the first quarter world exports were still negative but there has been a turnaround," he said. In the first quarter of 2009 Indonesia’s economic growth is estimated to reach around 4.6 percent because of continuing strong domestic demand. He said countries that recorded positive growth also saw strong domestic demand.
"China, India and Indonesia still grew and commonly enjoyed strong domestic demand. The future strategy will still be focussed on domestic demand to push economic growth," he said.
He said his office recorded on May 11, 2009 total direct foreign investment reached US$3.511 billion increasing from US$2.87 billion recorded in April 2009. "Investment in the oil and gas sector meanwhile rose from US$879 million in April 1 to US$1.78 billion in May 11," he said.
Regarding economic growth, he said BI was still estimating it will reach three to four percent. He said there had been signs of recovery in the past few months.
"In the past few months there have been early signs of economic recovery. In the first quarter world exports were still negative but there has been a turnaround," he said. In the first quarter of 2009 Indonesia’s economic growth is estimated to reach around 4.6 percent because of continuing strong domestic demand. He said countries that recorded positive growth also saw strong domestic demand.
"China, India and Indonesia still grew and commonly enjoyed strong domestic demand. The future strategy will still be focussed on domestic demand to push economic growth," he said.
He said his office recorded on May 11, 2009 total direct foreign investment reached US$3.511 billion increasing from US$2.87 billion recorded in April 2009. "Investment in the oil and gas sector meanwhile rose from US$879 million in April 1 to US$1.78 billion in May 11," he said.
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