- The Indonesian Central Statistic Bureau recorded that the Indonesia GDP has grown by 4.2% in the 1st semester 2009 and by 2.3% in the 2nd Q’09 compared to 1st Q’09. The economic growth until end of 2009 overall is predicted to remain on track with the upper limit of the 3.5% - 4.0% projected range.
- The Consumer Price Index (CPI) in July 2009 inflated by 0.45% from June 2009, so that the inflation rate in July is 2.71% yoy and the inflation rate from January to July 2009 is 0.66%.
- The value of Indonesian export in the 1st semester 2009 has fallen down by 28.94% to US$50.02 billion compared to the same period of last year. However, the import value has also fallen down to US$41.39 billion, so that the trade balance is surplus by US$8.62 billion.
- The central bank Bank Indonesia has again lower the benchmark interest rate by 25 bps to 6.5% at the end of the month. The decision was taken in view of the declining trend of the inflation rate due to present limited domestic demand and the consistency with the Bank Indonesia inflation target. However, Bank Indonesia sees the likelihood of rising inflationary pressure in 2010.
- Improvement in the financial sector is visible in the commercial bank lending interest rate in response to the central bank rate cut. Bank lending has begun to gain momentum, although expansion remains slow. The banking industry remains in stable condition, as reflected in the continued high CAR and subdued NPLs at 4.5%.
- The Indonesian currency Rupiah has reached the highest level in more than 10 months after the government reported the 2nd Q economic growth that beat analysts’ estimates. The Rupiah was traded at 9.850 against US Dollar compared to 12.600 in December 2008.
- The Jakarta Stock Exchange is currently in bullish trend and its index has almost reached the level of pre-crisis level to be one of the best stock exchange performers in the world with daily transaction value far exceeding the average value at the beginning of this year.
- The Indonesian state owned Oil Company PT Pertamina has secured a US$700 million loan from a consortium of 18 local and foreign banks where Bank Mandiri and Citibank act as lead arrangers.
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