"We have to make adjustments by revising down the previous growth forecast, because the world economic growth in 2016 is worse than that last year," BI Governor Agus Martowardojo told a press conference here on Thursday.
Agus has predicted that the global economic condition in 2017 would be affected by the impact of the 2016 economic downturns. This is a challenge that forces BI to continue revising down its growth forecast.
"Various international bodies and research results of qualified institutions have also revised down their global economic growth predictions for 2017," Agus said.
Apart from that, the revision of the growth projection was also based on credit growth, which is expected to increase only after the end of the second quarter of 2017 following the gloomy global economic period in 2016.(*)
Editor: Heru Purwanto
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