Bank Indonesia Praises Economic Growth of Bali

Bank Indonesia Praises Economic Growth of Bali

Bank Indonesia Bali praised economic growth of the province that reached 6.4 percent in the third quarter of 2014 or above the national economic growth which showed a decline.

“Economic growth in Bali from quarter to quarter is increased, this is very unique considering most of Bali’s economy is sustained by tourism,” said Senior Deputy Governor of Bank Indonesia Mirza Adityaswara, on Monday.

According to him, the growth of the national economy showed a decline, reaching the range of 5.0-5,1 percent, compared to the period of 2013 slipped 6.3 percent.

The decline, he said, contributed by lower economic growth of number of provinces which economy has been supported by mining and plantation commodities.

“Economic growth in South Sumatra, Riau, Aceh, West Nusa Tenggara and some other areas decreased because the areas’ economy is supported by mining and plantation commodities which prices are now declining,” he said.

While Bali’s economy that does not depend on the results of natural resources, even showed an increase in economic growth because it is supported by the tourism sector.

“Security is an important factor to maintain economic stability in Bali along with infrastructure and tourism development. Much can be emulated by other provinces from Bali,” he added.

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