BI: Purchasing power of the people improving

Semarang, Central Java (ANTARA News) - Representative office of Bank Indonesia (BI) in Central Java/Yogyakarta said the purchasing power of the people has improved after acceleration of the spending of state budget.

"The purchasing power of the people decline in the first and second quarters of this year, but with the economic policy package announced by the government earlier this month, the purchasing power of the people has improved," Iskandar Simorangkir head of the BIs representative office in Semarang said on Wednesday.

"The high increase in the spending by the government lately has helped improve the purchasing power of the people," Iskandar said here .

He said the increase in spending has greatly revived the Central Javas economy.

"We predict, at least there would be no decline in the third and fourth quarters of this year," he said.

He predicted that the countrys economy would grow 5 percent in the third and fourth quarters of this year from around 4.7% in the first half of the year.(*)

Comments