JAKARTA, Feb. 23 (Xinhua) -- Indonesia's financial service authority or OJK has estimated banking credit to expand at a faster pace this year, indicating the economy will accelerate.
Chairman of the OJK Muliaman Hadad on Thursday said he forecast the credit would grow at double digit this year, compared with 7.87 percent last year.
Mujliaman said that he had recorded signals for the improvement of the credit disbursement.
"We expect a double-digit growth this year as the signals of improvement has been seen," he said.
The Southeast Asia's largest economy is projected to expand 5.0 to 5.4 percent this year after growing 5.02 percent last year, according to the central bank.
The central bank had applied the longest easing cycle for months last year by cutting 150 basis points its benchmark interest rate to help spur banking credit growth.