Indonesia missed Q1 economic growth target
The Central Statistics Agency (BPS) said that Indonesia's economy grew by 6.3 percent in the first quarter of 2012 on a year-on-year basis.
"Indonesia's economy, based on gross domestic product (GDP) value, has reached Rp 1,972.4 trillion in the first quarter of 2012," BPS head Suryamin said here Monday.
Based on a quarter-to-quarter basis, Indonesia's economy grew by 1.4 percent in the first three months of 2012.
"The top contributor to growth are the farming, forestry, and fishery sectors with 20.9 percent, due to the fact that harvesting season took place in the first quarter of 2012," Suryamin said.
Despite the growth, Indonesia, in fact, had missed its 6.5 percent economic growth target for the first three months of 2012 by 0.2 percent.
Achieving that target is crucial because the government also wants to have 6.5 percent overall economic growth in 2012.
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