Q3 Growth Slightly Less than 5.1%: BI

Husen Miftahudin    •    23 Oktober 2018 18:44 WIB
indonesian economy (en)
Q3 Growth Slightly Less than 5.1%: BI
Illustration (Photo:MI/Usman Iskandar)

Jakarta: Bank Indonesia (BI) has projected a lower-than-expected gross domestic product (GDP) growth in the third quarter of 2018.

"It is likely to be slightly less than 5.1 percent," BI senior deputy governor Mirza Adityaswara told repoters on Tuesday.

"The growth projection for exports has been downgraded on weaker agricultural and mining export performance," he said.

According to the Central Statistic Agency (BPS), the country posted a gross dometic product (GDP) growth of 5.27 percent in the second quarter of 2018. Cumulatively, the country recorded an economic growth of 5.17 percent in the first semester of 2018.

In this weeks's Board of Governors meeting, the BI 7 Day Reverse Repo Rate was maintained at 5.75 percent. In addition, the Deposit Facility and Lending Facility rates were maintained at 5.00 percent and 6.50 percent respectively.