The Indonesian economy may have decelerated in the second quarter of this year compared to last year’s same period, due largely to falling exports and lagging investment, according to a Bloomberg survey of 16 economists.
The 868 billion USD economy expanded at a slowing pace of 5.15 percent in April-June, slightly lower than the 5.21 percent pace recorded in the January-March period, they said.
DBS bank ascribed the slowdown to the global economy and impact from the raw mineral export ban. The unprecedented policy has instead dealt a large blow to the country’s most lucrative sectors, palm oil and coal.
According to the Central Statistics Agency, Indonesia’s exports in April-June were 2.2 billion USD less than its imports. It also took in 9.8 billion USD worth of investment during this period.
Experts from DBS and Danaman banks forecast that the economy may improve during the rest of the year. Meanwhile, the Bank Indonesia still keeps its growth forecast of 5.1-5.5 percent.-VNA
The 868 billion USD economy expanded at a slowing pace of 5.15 percent in April-June, slightly lower than the 5.21 percent pace recorded in the January-March period, they said.
DBS bank ascribed the slowdown to the global economy and impact from the raw mineral export ban. The unprecedented policy has instead dealt a large blow to the country’s most lucrative sectors, palm oil and coal.
According to the Central Statistics Agency, Indonesia’s exports in April-June were 2.2 billion USD less than its imports. It also took in 9.8 billion USD worth of investment during this period.
Experts from DBS and Danaman banks forecast that the economy may improve during the rest of the year. Meanwhile, the Bank Indonesia still keeps its growth forecast of 5.1-5.5 percent.-VNA
