Indonesia's economy forecast to grow by 5.3 percent in Q2 (Source: jakartaglobe) Jakarta (VNA) – The Indonesian economy is expected to grow by 5.1-5.3 percentin the second quarter of 2017 thanks to a rise in domestic consumption.
Ministerof Economic Affairs Darmin Nasution said that local consumer spending likelyrose during the Islamic holy month of Ramadan, helping to further bolster theeconomy, the Jakarta Globe newspaper reported.
Indonesia,Southeast Asia's largest economy, recorded 5.01 percent growth in theJanuary-March period, higher than the corresponding periods in 2016 and 2015 asits commodity export market showed healthy signs of recovery.
Ministerof Economic Affairs Darmin Nasution said that local consumer spending likelyrose during the Islamic holy month of Ramadan, helping to further bolster theeconomy, the Jakarta Globe newspaper reported.
Indonesia,Southeast Asia's largest economy, recorded 5.01 percent growth in theJanuary-March period, higher than the corresponding periods in 2016 and 2015 asits commodity export market showed healthy signs of recovery.
FinanceMinister Sri Mulyani said in May that both Indonesian exports and imports areextremely good, confirming a trend of rising prices and increased volume of thecountry's exports. The country exports oil, coal and copper as well as palmoil, rubber, cocoa and coffee beans to countries around the world.
However,Bank Indonesia, the country's central bank, was less optimistic, saying earlierthat consumption and export rates had been lower than expected, prompting thebank to cut its GDP growth estimation to 5.1 percent for the second quarter,from 5.2 percent earlier.-VNA
However,Bank Indonesia, the country's central bank, was less optimistic, saying earlierthat consumption and export rates had been lower than expected, prompting thebank to cut its GDP growth estimation to 5.1 percent for the second quarter,from 5.2 percent earlier.-VNA
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