Kedutaan Besar Republik Indonesia
Embassy of the Republic of Indonesia
Ambassade de la RÉpublique d'Indonésie

Third quarter growth crosses five percent mark, President Jokowi grateful

Jakarta (ANTARA News) – Indonesia has registered a national economic growth rate of above five percent in the third quarter of the year, prompting President Joko Widodo (Jokowi) to underline his gratitude for it.

The year-on-year economic growth rate was 5.02 percent.

“We had estimated that it will remain below five percent, but thank God, we have achieved more than that,” the president said after a ceremony where he provided directives for 2,185 military personnel at the Army Headquarters grounds in Jakarta on Monday.

He hoped that the economic growth will be even better as there has been improvement in state budget absorption level and its utilization.

“In the fourth quarter, the state budget usage will rise significantly. We hope for better realization of budgetary allocations and payments,” he stated.

The president also reminded everyone to keep an eye on the global economic scenario which can plunge further, thus affecting Indonesias economy negatively.

In a previous report, the Central Bureau of Statistics had recorded a growth rate of 5.02 percent during the third quarter, less than the 5.18 percent recorded in the second quarter.

Suhariyanto, the head of Bureau, pointed out on Monday that uneven development has emerged as the main reason for instability in global economic growth.

“There has been uneven economic growth in a number of trade partner countries during the third quarter,” Suhariyanto noted.

Citing an example, he reminded that while growth in China remained stagnant at 6.7 percent, Singapore witnessed an economic slowdown from 2 percent to 0.6 percent.

South Koreas economy also went down from 3.3 percent to 2.7 percent.

(Reported by Joko Susilo/Uu.KR-ARC/INE/KR-BSR/A014)