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

Sri Mulyani estimates 5.05% economic growth this year

Finance Minister Sri Mulyani Indrawati has set a more realistic forecast for economic growth of 5.05 percent year-on-year (yoy) by year-end, lower than the 5.2 percent target stipulated in the revised 2017 state budget.

She said in Jakarta on Wednesday that both government and household spending would improve economic growth in the fourth quarter.

a�?We see that government spending will grow about 3 percent, while household spending will grow 5 percent in the fourth quarter,a�? said Sri Mulyani as reported byA�kontan.com.

Therefore, she estimated that economic growth could reach between 5.15 and 5.17 percent in the fourth quarter. a�?And full-year growth will be 5.05 percent,a�? she added.

In the third quarter, the economy grew 5.06 percent yoy, according to the Central Statistics Agency (BPS), higher than growth in the second quarter, which was 5.01 percent yoy, which was the same as in first quarter.

In September, Sri Mulyani said economic growth was unlikely to reach the target in the revised 2017 state target, mainly because of weak investment realization in the first half.

She said she was optimist that the figure would be 5.17 percent, down only 0.03 percent from the target. (bbn)