PERKEMBANGAN EKONOMI REGIONAL DAERAH ISTIMEWA YOGYAKARTA TRIWULAN IV-2004

Abstract

Economic performance of Yogyakarta Province in the fourth quarter of 2004 (QIV-
2004) tended to decrease slightly, as reflected by negative growth of Gross Domestic
Regional Product (GDRP) of -6.92%, in line with the initial forecast. The negative growth
of the regional economy was mainly attributable to the developments of three economic
sectors during QIV-2004, these are (i) Agriculture sector, (ii) Finance, Ownership, and
Business Service sector, (iii) Services sector. Based on GDRP negative growth of
Yogyakarta Province in the past three quarters, it is predictable that the economy in the
year 2004 could be able to grow at estimated rate 4,88%, which is higher than previous
year economic growth. On the other hand, overall inflationary pressure in Yogyakarta City
rose, indicated by quarterly inflation of Consumer Price Index (CPI) of QIV-2004 was
2.66% (quarter to quarter) and cumulative CPI inflation through December 2004 was
6.95% (year to date), higher than National CPI inflation (6.40%). The inflationary pressure particularly during QIV-2004 was driven by increased domestic demand due to a seasonal factor of religious events i.e. Idul Fitri, Christmas Eve and New Year Eve. Meanwhile, in general banking performance consisting of commercial & rural banks during QIV-2004 was relatively stable, despite of slightly decreased banks’ asset and deposits as of November 2004 which is recorded 1.00% and 1.35% respectively. In contrast, total credits grew from Rp4,699 billions (Sept’04) to Rp5,013 billions (Nov’04) as well as Non
Performing Loans Ratio somewhat declined from 2.50% to 2.45.%.

Keywords : economic growth, CPI inflation and banking performance.