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Indonesia’s economic growth slows in Q4

by ChemOrbis Editorial Team -
  • 06/02/2017 (16:04)
According to media reports, Indonesia’s economic growth came in line with the expectations in the fourth quarter. The country’s gross domestic product (GDP) rose by 4.94% year over year in the October-December period after a growth of 5.2 % in the previous quarter. However, the country’s GDP decreased 1.77% in Q4 of 2016 quarter-on-quarter, in line with expectations of a drop by 1.8%.

For all 2016, the country’s economy expanded by 5.02% when compared to 4.88% in 2015 and matched the forecasts.

In the fourth quarter, Indonesia’s household consumption rose 4.99% on a yearly basis while government spending was down by 4.05%.

President Joko Widodo had targeted a 7% growth rate for Southeast Asia’s biggest economy despite the obstacles set by lower commodity prices and weaker global demand. Economists expect the country’s economic growth to be stable at 5% for the following year.
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