ASEAN KEY DESTINATIONS
Bank Indonesia sees creative industry, tourism as catalyst to economic growth
Bank Indonesia Governor Agus Martowardojo said on Friday that the creative economy and tourism could support the country's future economic growth, as small and medium-sized enterprises (SMEs) in these sectors could potentially contribute 70 percent to gross domestic product (GDP).
The central bank said SMEs had contributed 60.3 percent of GDP and absorbed 97 percent of the total working population in which it was showing that it was becoming a catalyst for the economy, similar to what was experienced in the country just after the monetary crisis of 1998.
"We see potential in tourism and the creative economy to contributing to our economic growth," Agus said in Jakarta.
Indonesia posted robust economic growth in the second quarter, at 5.18 percent year-on-year but growth was still dominated by Sumatra and Java, while Kalimantan and other eastern regions of the country were still experiencing a slowdown, he said.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below
Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.