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Home  >>   Daily News  >>indonesia>>Economy>>Indonesian economic growth accelerates to 5.02
NEWS UPDATES Asean Affairs     February 7,  2017  







Indonesian economic growth accelerates to 5.02

Indonesia's GDP rose by 5.02 percent last year, compared with 4.88 percent in 2015, the Central Statistics Agency (BPS) reported on Monday.

Looking just at the fourth quarter of the year, however, the country’s economy experienced a slowdown, with year-on-year GDP growth falling to 4.94 percent from 5.02 percent in the third quarter.

BPS head Suhariyanto said government spending had fallen by 4.05 percent in the fourth quarter last year following state budget cuts, which had caused the lower growth rate, in comparison with a 7.12 percent increase in the same quarter of 2015.

"Yes, there was an impact from the adjustment in the state budget, so there was also decline in government spending for goods and social assistance," he said at a press conference on Monday, adding that the lower government spending had happened since the third quarter last year.

The lower government spending was attributable to austerity measures taken by President Joko “Jokowi” Widodo’s administration following Rp 137 trillion (US$10.27 billion) in state budget cuts in early August of 2016 and calls from the President to scrap non-essential spending.

Meanwhile, exports and imports grew at a slower pace of only 1.74 percent and 2.27 percent, respectively, in 2016. Investment grew by 4.48 percent last year.

Household consumption, which is the biggest component of Indonesia's GDP and accounts for more than 56 percent of the total, increased by 5.01 percent.

"Looking at sectors, financial services and insurance was the biggest contributor to growth last year, followed by information and communication as well as other services," Suhariyanto said.


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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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