Published:
Indonesia’s banking credit to slow down in 2014
Caused by effort to stabilize the economy. Central bank governor Agus Martowardojo expects credit to expand slower from 15.5% to 16.3% next year from this year's credit growth estimate of 20%. Part of the stabilization program is the effort to keep the Indonesia’s current account deficit at a favorable level, he said. High interest rates in the banking sector are also causing banking credit to falter. "With the current higher banks' interest rate, it is going to push the growth of the credit to the range (of 15.5% to 16.3%)," said Martowardojo.
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