A view of Jakarta's skyline. (Photo: AFP/BAY ISMOYO) Hanoi (VNA) - Moody’s InvestorsService upgraded its credit rating for Indonesia on April 13, praising thecountry’s central bank and government policies for boosting confidence in thelargest economy of Southeast Asia.
Indonesia's efforts in keeping budgetdeficit and inflation under control led to Moody's boosting its rating to Baa2from Baa3 with a stable outlook.
A better credit rating tends to lower acountry's borrowing costs and can make it more attractive to investors.
In December last year, Fitch Ratings increasedIndonesia's sovereign rating, with Standard & Poor's previously raisingIndonesia's credit rating from junk status to investment grade.
Indonesia’s economy grew by 5.1 percent in2017, up from the 2016’s figure of 5 percent, still well below President JokoWidodo's target of 7 percent.-VNA
VNA
