JAKARTA, Indonesia-- The amount of banking credit in Indonesia last year grew higher as economic activities rose.
Deputy Governor of Central Bank Erwin Rijanto said on Friday that the country's loan growth expanded 8.1 percent, which is in line with the projection of the central bank of 8 to 10 percent.
That compares with 7.8 percent banking credit growth in the previous year, Rijanto said.
Chairman of commissioner council of the country's financial services authority Wimboh Santoso said demand of credit from companies and individuals rose at the end of last year.
The official said credit of consumption and working capital factored on the hike of the loan.
With the positive economic prospect, the central bank and the financial services authority forecast banking credit will expand 10 to 12 percent this year.
The Indonesian government expects the country's economy to grow 5.4 percent this year after it expanded 5.02 percent in 2016.
For last year, the government estimates gross domestic product growth of 5.17 percent.
Source: NAM NEWS NETWORK