Indonesian Economy May Grow 5 Percent in Q1: Senior Minister

Coordinating Minister for Economic Affairs Darmin Nasution..

Jakarta, 12 Jumadil Akhir 1438/11 Mach 2017 (MINA) – The Indonesian economy may grow above 5 percent in the first quarter (Q1) of 2017, or higher than the growth reported in the same period last year, Coordinating Minister for Economic Affairs, Darmin Nasution has predicted.

“I see that first-quarter growth is not bad. It is better the first quarter of 2016 when it was recorded at 4.92 percent and now it can be 5 percent,” Antara quoted him as saying here on Friday.

He further said the agricultural sector in Q1 of 2017 may contribute to economic growth, following a shift in harvest time to Q1 in 2017 from Q1 in 2016.

On the spending side, export performance, which has shown an upward trend since the fourth quarter of 2016 might also contribute to economic growth in Q1 of 2017, Darmin noted.

“Our export performance is relatively not bad. Last year, the harvest time fell during the second quarter and this year it fell in Q1. Our production is also good,” he said.

After all, government consumption has not played a maximum role in supporting Q1 growth, he added.

“What we need to look at is budget, which not good is sometimes in the first quarter.”

In Q1 of 2016, the economy grew at a slower pace of 4.92 percent year-on-year due to a marginal increase in government consumption and investment. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)