MACROECONOMIC ANALYSIS SERIES: BI Board of Governor Meeting, June 2019

Inflation rate experienced an upsurge to 3.32% (yoy), higher than 3.23% in the same period last year, partially reflecting an improvement in household demand throughout Ramadan and heading into Eid-al-Fitr celebration. Meanwhile, investment has not shown a significant improvement even after the end of the election. Current account deficit in Q2 2019 is inevitable and the target of overall deficit at below 3% of GDP in 2019 is still quite challenging. Moreover, the depressed export due to the downward trend in commodity prices will plague the economic growth in the first half of 2019.

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