JAKARTA (Reuters) – Indonesia’s loan development is expected to be around 3%to 4%in 2020, below a preliminary target of 10%-12%, as financial activity is struck by the coronavirus pandemic, the chairman of the Financial Services Authority (OJK) said on Thursday.
” Loan development should have been dropped in June since financial activity had actually not moved and it just began moving in July,” Wimboh Santoso told an online discussion.
OJK reported loan growth in May at 3.04%.
Reporting by Tabita Diela; Editing by Ed Davies
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