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Economic Research
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1
August 2017
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Indonesia
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Economic Update
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Indonesia’s money
supply (M2) growth edged up to 11.4% YoY in June (May: +11.1%) due to a
pick-up in net domestic claims. Going forward, we expect broad money supply
to grow at a faster pace of 11% in 2017 (2016: +10%), underpinned by stronger
economic growth.
Private credit moderated. Total loan growth, however,
eased in June, due to weaker growth in working capital and investment loans.
Going forward, we expect demand for private credit to pick up to 10-12% in
2017 (2016: +7.8%), aided by:
i. A
more accommodative policy environment following monetary policy easing in
2016;
ii. Stronger
projected economic growth.
Economist:
Rizki Fajar| +6221 2970 7065
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Wednesday, August 2, 2017
June M2 Growth Picks Up, Loan Growth Moderates
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