Indonesia Q1 growth around 5 per cent: president

[LONDON] Indonesia's president Joko Widodo said on Wednesday the country's growth rate had stabilised around 5 percent in the first quarter, and the goal was to gradually raise the rate from these levels.

Speaking at an investment conference in London, Mr Widodo said:"I believe we have stabilised in the region of around 5 perncent annual growth rate." He attributed this to infrastructure investment.

In February, Mr Widodo said he was very optimistic the country could achieve its 5.3 per cent growth target after a slide of 4.8 per cent last year.

Southeast Asia's largest economy has been growing at its slowest pace in six years because of falling commodity prices and cooling growth in major trading partner China.

REUTERS