The amount of foreign exchange reserves of the Bank Indonesia (BI) climbed to more than 107 billion USD in May, higher than April’s volume which recorded 105.6 billion USD, a local official has said.

Executive Director of the BI Communication Department Tirta Segara said the hike of the reserves was attributed to the earnings from the export of oil and gas and increased foreign investment inflow.

The Indonesian economy will grow 5.3 percent in the second quarter of this year, a slight surge compared to the 5.21 percent in the previous quarter, the BI predicted.

BI Deputy Governor Perry Warjiyo said rising household spending and investment will improve economic growth in the second quarter, adding that the trend will continue until the end of this year.-VNA