Indonesia posts a 5.01 percent growth in GDP in the second quarter of 2017 (Photo: Four Seasons) Jakarta (VNA) – Indonesia posted a 5.01 percent growth in GDPin the second quarter, slightly slower than expected, local media reported,citing official statistics of the Central Bureau of Statistics (BPS).
Some experts said it would be difficult to meet the Government’s goal of5.2 percent growth this year, noting that private consumption, the main drivingforce of the economy, is slowing down, with an increase of just 0.01 percent ona quarterly basis. The weakening purchasing power could be seen in the lowergrowth of the commercial sector at 3.78 percent in Q2, compared to Q1’s 4.96percent.
However, the Bank of Indonesia is confident that the country can achievethe target.
The bank said Indonesia’s foreign reserves rose by 4.7 billion USD inJuly to top 127.76 billion USD, equivalent to nearly 9 months of imports, wellabove the international standards at three months of imports.
According to the bank, the nation’s foreign exchange reserves are ableto strengthen the resilience of the external sector and maintain thesustainability of Indonesian economic growth.-VNA
VNA
