Published:
Indonesia's economic growth picks up
This is on the back of a strong 30.2% growth for total foreign direct investments in the second quarter.
OCBC noted:
Indonesia’s economic growth picked up to 6.37% yoy in 2Q12 against the revised 6.32% yoy from the previous quarter. This comes on the back of a strong 30.2% growth to USD 5.9bn for its total FDI in Q2, with most of the inflows concentrated in mining and base chemicals.
M2 growth reached a 13-year high of 20.9% yoy in May, suggesting underlying inflationary pressures remain prevalent in the economy, driven by a strong loan growth amidst robust domestic demand.
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