Indonesia posts 5.17 percent economic growth in Q3Staff Writer | November 5, 2018
Indonesia posted a 5.17 percent growth in the third quarter this year, lower than 5.27 percent in the previous quarter, Indonesia's Central Statistics Bureau (BPS) Chief Suhariyanto said here on Monday.
Asia Current account deficit was apparently the culprit that drags down the nation
Current account deficit was apparently the culprit that drags down the nation to attain higher growth, according to him.
Indonesia's exports during the third quarter that ended in September have grown 8.33 percent, yet the imports during the period grew even higher at 23.71 percent.
"We still have one more quarter until the end of the year. If it is better, we may see a good yearly growth figure," he added.
Southeast Asia's largest economy has set the economic growth target at a range of 5.18 to 5.4 percent this year on the back of robust domestic consumption.
In their economy outlook reports, international financier agencies have estimated Indonesia's growth may reach at a span of 5.1 to 5.2 percent.
The Asian Development Bank (ADB) estimated that the growth may reach 5.2 percent, while the World Bank revised down its estimation from 5.2 to 5.1 percent.
The International Monetary Fund (IMF) revised down its growth estimation for Indonesia this year from 5.3 to 5.1 percent through its World Economic Outlook published last month. ■