Indonesia's GDP growth to accelerate to 5.2-5.3% in Q4: minister
[JAKARTA] Indonesia's annual economic growth is expected to pick up to around 5.2-5.3 per cent in the current quarter, from 5.02 per cent in July-September, its chief economics minister said on Wednesday.
"Based on our track record, growth in the fourth quarter is always higher than the third, and government spending always accelerates towards year end. There will be huge spending and we're also expecting harvest time in October-December," Darmin Nasution told an economic conference.
The acceleration in the fourth quarter would bring full-year 2016 growth to 5.1 per cent, Mr Darmin said, better than the government's earlier forecast of 5 per cent.
His forecast for growth in 2017 was 5.2-5.4 per cent, versus the government official target of 5.1 per cent, which he described as "conservative".
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons