The Car Insurance Info : Economist: growth slowing domestic consumption is stuck

Jakarta (The Car Insurance Info)-Bank Danamon Economist Dian Ayu said Yustina, Indonesia's economic growth in the quarter I 2013 of 6,02 percent on an annual basis (yoy), have been held up by the performance of domestic consumption and investment slowed.

"Growth is stifled by domestic demand became the main driving force of the economy and slowing the pace of investment," he said in the affidavits here on Tuesday.

Ayu said the slowing of consumption, especially in the private sector, are also affected by the high rate of inflation in early 2013.

The condition, he continued, can take up to two next quarter, when rising fuel prices subsidized so enacted.

"However, pressure on consumption will be reduced when shopping is increasing ahead of the elections, and the more helpful by increased absorption of labor, due to the improving unemployment rate," he said.

Ayu added performance sector investment also slowed in quarter I, seen from perlemahan construction services and a decrease in imports of capital goods, so join the withholding rate of economic growth.

"Surprisingly, government spending increased slightly above expectations due to the elections in the region, though still relatively low because of the obstacles the document administration of disbursements," he said.

Overall, the condition of Indonesia's economic growth is still influenced by the increase in the performance of the service sector, particularly transport and communications and finance, and the export sector that still affected the global crisis.

"There are no significant changes from the performance of the industrial sector, because economic growth is still the dominant sector of tertiary or donated by the service industry," he said.

With these conditions, it Was estimated that at the end of the year, economic growth was at number 6,17% (yoy). Inflation rate will also be increased, due to the rise in fuel prices in June, up by 7 percent.

"Whereas, the commodity prices that affect exports to ' rebound ' next year, so the projections for 2014, economic growth ranging from 6.49 percent (yoy)," he said.  (S034/Z002)

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The Car Insurance Info : Economist: positive for rupiah redenomination banking

Redenomination would reduce hardware and software adjustments in accommodating large numbers of digits. Currently, the ability of a computer can only accommodate 15-digit numbers, while the STATE BUDGET has reached 16 digits, "

Jakarta (The Car Insurance Info)-the re-denomination rupiah will give a positive impact to the world banking because of economic efficiency will be particularly-digit number is getting smaller, says an economist.

"Redenomination would reduce hardware and software adjustments in accommodating large numbers of digits. Currently, the ability of a computer can only accommodate 15-digit numbers, while the STATE BUDGET has reached the 16-digit, "said Bank Mandiri Chief Economist Destry Damayanti in Jakarta on Tuesday.

Bank Mandiri, said Destry, transactions per day reached the Rp40 trillion, while its overall banking transactions in Indonesia already reach Rp400 trillion per day.

When the rupiah denomination not simplified, while increasing transaction and value is getting bigger, Destry says information technology systems in the banking and other computer certainly will "hang".

"For the world of banking, the redenomination will definitely give rise to costs. But cost is not significant. Thus the greater benefits, "he said.

Therefore, Destry exposes redenomination will create efficiencies in the process of recording, storage, management and reporting of data in the financial statements or statistics.

"Re-denomination is also reducing the barriers and constraints of technical possibilities of human error in the process of bookkeeping transactions or other statistical activities," he said.

On the other hand, Destry says the perception or belief communities against the rupiah will also be higher because prices change on a narrow range. Redenomination is also reducing the risk of "currency substition" which further supports a more stable rupiah.

"For the people of Indonesia, the redenomination will also support economic equality with other precincts in the era of the ASEAN economic community by 2015. Currently, the rupiah denomination is very high when compared to other ASEAN countries, "he said.

Destry Damayanti was one of the speakers at the Seminar ", Indonesia ready to face the Re-denomination?" held the set Student Study Accounting scandal Perbanas Institute at the Auditorium scandal Perbanas Jakarta.

In addition to the other speaker is Destry, Executive Director of the Center for Educational Research and the Central Bank Bank Indonesia Iskandar Simorangkir and economic experts University of Indonesia Jakarta Telisa Aulia Falianty. (*)

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