Indonesia’s economic growth was 5.02 percent in 2016, below the government’s expectations, local news agency Antara quoted Indonesian Coordinating Minister for Economic Affairs Darmin Nasution as saying on February 7.
Indonesian Coordinating Minister for Economic Affairs Darmin Nasution (Source: Antaranews)
Jakarta (VNA) –Indonesia’s economic growth was 5.02 percent in 2016, below the government’sexpectations, local news agency Antara quoted Indonesian Coordinating Ministerfor Economic Affairs Darmin Nasution as saying on February 7.
As economic growth fell short ofexpectations, it is necessary to cut budget spending, stated Nasution.
Earlier, the Central StatisticsAgency of Indonesia reported that the Indonesian economy expanded 4.94 percentin the fourth quarter of 2016, bringing national growth to 5.02 percent for thewhole year, a rise of 0.14 percent over 2015.
The World Bank predicted thatIndonesia’s GDP would grow 5.3 percent in 2017, higher than previous years dueto an increase in private investment thanks to monetary policies in 2016 and animproved investment environment.
The bank also forecast thatprivate spending in Indonesia will increase this year due to low inflation andthe stable price of domestic currency.
Nasution stressed that theIndonesian government has much to do to tackle inflation in 2017.-VNA
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Indonesian Coordinating Minister for Economic Affairs Darmin Nasution (Source: Antaranews) 
