Indonesia: Economic growth rate lower than expected
Indonesia posted a slower economic growth in the fourth quarter of 2016 and the country will have to struggle to get the rate above 5 percent this year.
Jakarta (VNA) – Indonesia posted a slower economic growth in the fourthquarter of 2016 and the country will have to struggle to get the rate above 5percent this year, especially when the central bank is unlikely to be able tokeep cutting interest rates to spur lending.
According to the data announced onFebruary 6 by the Statistics Indonesia, Indonesia’s economy grew at 4.94percent in the fourth quarter of 2016, down from 5.01 percent of the previousquarter.
For the whole year, Indonesia gained an economic growth of 5.02 percent, fasterthan the 4.88-percent level of last year. This is the first time in six years Indonesia’seconomic growth rate has been higher than the previous year.
A senior expert from Natixis, a corporate investment banking company, saidIndonesia’s economy will grow 5.4 percent in 2017.
The median forecast of a Reuters poll conducted ahead of the data was for 2017growth of 5.2 percent, while the government's target - which it callsconservative - is 5.1 percent.
The weak growth 💦of its key trade partners, low foreign direct investment andpoor infrastructure have been cited as reaso𓃲ns behind the Indonesian economy’srecent deceleration.-VNA
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Illustrative image (Source: VNA)
