Bali's economy to grow this second quarter

Bank Indonesia for Bali and Nusa Tenggara have predicted that with this national school holiday coinciding with the fasting month, economic growth will be motivated for the second quarter of this year. This is compared to last year.

It was claimed that the diversion of foreign tourists to Bali from Thailand could expect a lift to Bali’s economy during this second quarter. He also felt that, based on surveys conducted by Bank Indonesia, consumer and business confidence would remain high in the second quarter.

Economists at Bank Indonesia also feel that Bali’s agricultural sector would positively contribute to the Island’s economy due to prevalent good weather conditions. This good weather is anticipated to positively impact Bali’s fishing sector.

Favourable conditions sustain Bali’s economy which Bank Indonesia predicts will grow at a rate of 5.2-5.8% during the second quarter of 2014.

Economic growth in Bali was at 5.43%.