BI Boss Predicts RI's Rich People Will Spend More Often, Bank Credit Can Increase Too

Illustration (Photo: Doc. Antara)

JAKARTA - Governor of Bank Indonesia (BI) Perry Warjiyo said that consumption activity will continue to increase in line with the mobility of the people who are getting closer to normal levels.

According to him, this opens up opportunities for the upper-middle class to use more of their funds, especially those that settle in the banking sector.

"People's mobility will increase, thus opening up economic sectors will also increase, including an increase in public consumption, especially for the upper-middle class," he said in a virtual press conference, Thursday, November 18.

Perry added that this consumption activity is believed to increase the demand for bank credit, both consumption credit and productive credit for the business world.

"God willing, with increased mobility and the opening of economic sectors, consumption and credit will increase," he said.

For information, Bank Indonesia simply focuses on the upper-middle class who choose to postpone consumption due to the COVID-19 pandemic situation. It is then considered to have an influence on the rotation of the economy.

It is stated that this community group is more likely to hold their funds in the bank rather than use it for shopping.

This indication can be seen from the growth of third-party funds (dpk) in banks which is still high. BI reported that the rate of increase in deposits until October was at the level of 9.4 percent year-on-year.