BI Pushes Jakarta for 5.4 Percent Capex Absorption in Q3

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    TEMPO.CO, Jakarta - Bank Indonesia (BI) is targeting for the Jakarta city administration to absorb 5.2 to 5.4 percent of its capital expenditure (capex) in the third quarter of this year.

    Higher capex absorption is expected to help boost the capital city's economy this quarter.

    Doni P. Joewono, BI's chief representative for the Jakarta Province, said the projection was based on and adjusted with a variety of economic indicators monitored by the central bank in recent months.

    "Our growth projection for quarter three is similar to the actual growth in the previous quarter. Economy in the capital will improve because the regional budget had started being disbursed," he said on Friday, August 7, 2015, as reported by Bisnis Indonesia.

    Citing data from the Central Statistics Agency (BPS), Jakarta's economy grew by 5.15 percent (yoy) in the second quarter of 2015. This achievement is higher compared to quarter one's growth rate of 5.08 percent (yoy).