REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) estimates credit growth in 2014 only 15.3 to 16.6 percent compared to projection this year, which is about 18 to 22 percent. This slow growth is in line with projection of economic growth, which is only about 5.8 to 6.2 percent.

"We see that economic growth between 5.8 to 6.2 percent is supported by many factors, such as credit growth," Governor of BI, Agus Martowardojo said on Thursday.

BI needs to continue to make monetary stabilization to keep current account deficit, such as rise of interest rate. Since July 2013, BI has determine its benchmark interest rate at 7.25 percent.

Martowardojo said that credit sector should be encouraged to support loan and increase exports and employment opportunities for community. It also encourages banks to lend more to manufacturing and service sectors.

Former Minister of Finance said that world economic situation would change next year. Economic of advanced countries will improve, while economic of developing countries will be a little depressed, including Indonesia. With export credit from banks, BI estimates that Indonesia's export will be positive. Improved global economy will contribute to trade deficit. Controlled inflation is expected to support economic growth in Indonesia.

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