Indonesia experiences slowest growth in six years
Indonesia’s economy posted a growth rate of 4.79 percent in 2015 – the lowest recorded in the past six years, due to decreases in commodity prices and export turnover to key markets.
Illustrative image (Source: AFP)Southeast Asia’s largest economy hasn’t seen growth below 5 percent since 2009, when the global financial crisis was at its peak.
The rate was far lower than the Government’s target of 7 percent.
However, the country registered an economic growth rate of 5.02 percent in the fourth quarter of 2015 – higher than the third quarter’s 4.74 percent, which raised hope for a thriving economy this year. President Joko Widodo has taken a series of economic stimulus measures, designed to attract foreign investment and speed up the implementation of infrastructure projects.
The Finance Ministry set a goal of a 5.3 percent growth for this year.
Meanwhile, Capital Economics predicted that the country’s economy will grow 5 percent in both 2016 and 2017.-VNA
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