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Jakarta Post

Economic growth slows as Indonesia loses momentum

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, August 13, 2019   /  08:36 am
The Jakarta Post Image
Merchants and buyers pack the Tanah Abang Skybridge that connects the railway station to the famous Tanah Abang textile market in Central Jakarta . Indonesian economic growth slowed in the second quarter despite the increase in household spending ahead of Idul Fitri in June this year. (The Jakarta Post/Dhoni Setiawan)

Indonesia recorded lower economic growth in the second quarter of this year as it lost the momentum that had come from an increase in consumer spending, payroll bonuses and migrant worker remittances during Idul Fitri, according to the Institute for Development of Economics and Finance (Indef). “Indonesia missed the momentum to boost its economy when there were payroll bonuses and remittances from overseas workers during Idul Fitri and spending for general elections in April, an increase in consumer spending in the second quarter,” Indef executive director Tauhid Ahmad said in Jakarta on Aug. 7. For April’s presidential and legislative elections, the government spent more than Rp 25 trillion (US$1.7 billion), while candidates Joko “Jokowi” Widodo and Ma’ruf Amin reported total spending of Rp 601 billion for campaign activities and their rivals Pr...