TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Govt expects economy to grow 5.1 to 5.2 percent in Q3
The government expects the economy to grow around 5.1 percent to 5.2 percent year-on-year (yoy) in the third quarter of this year, slightly higher than the central bank’s estimate at 5 percent.
Change Size
Coordinating Economic Minister Darmin Nasution addresses the press after a limited meeting with President Joko Widodo and Vice President Jusuf Kalla in Jakarta on Oct. 22, 2015. (The Jakarta Post/wienda parwitasari)
T
he government expects the economy to grow 5.1 to 5.2 percent year-on-year (yoy) in the third quarter of the year, slightly higher than the central bank’s estimated 5 percent.
"It grew 4.9 percent in the first quarter and 5.18 percent in the second quarter. We estimate 5.1 to 5.2 percent growth in the third quarter," Coordinating Economic Minister Darmin Nasution said in Jakarta on Monday.
Earlier, Bank Indonesia predicted that economic growth in the third quarter was unlikely to be as high as previously expected due weak major economic indicators such as consumption, investment, government spending and exports.
Although consumption improved and private investment remained strong in the third quarter, the limited fiscal stimulus was in line with adjustments to government spending in the second half.
With these developments, the central bank estimated overall economic growth for 2016 would be at the lower range of 4.9 to 5.3 percent yoy. (ags)
