A street in Jakarta (Source: AFP/VNA)Jakarta(VNA) - Indonesia posted an economic growth of 5.17 percent in 2018, the highestlevel in five years, according to the country’s central statistics agency.
The expansion was mainly driven by household consumption, investment andgovernment spending, which contributed 2.75 percent, 2.17 percent and 0.38percent, respectively.
“This growth is quite an accomplishment…given uncertainty in the global economyand fluctuating commodity prices,” said Suhariyanto, head of the agency.
Despite instabilities in the financial market, Indonesia’s 2018 budget deficitwas estimated at 1.72 percent of the gross domestic product (GDP), lower thanthe government forecast of 2.19 percent. This is also the lowest budget deficitsince 2012.
However, Indonesia alsoadmitted that last year’s economic growth failed to achieve the target set inthe mid-term national development plan and the goal of 5.4 percent in the 2018State budget plan.-VNA
The expansion was mainly driven by household consumption, investment andgovernment spending, which contributed 2.75 percent, 2.17 percent and 0.38percent, respectively.
“This growth is quite an accomplishment…given uncertainty in the global economyand fluctuating commodity prices,” said Suhariyanto, head of the agency.
Despite instabilities in the financial market, Indonesia’s 2018 budget deficitwas estimated at 1.72 percent of the gross domestic product (GDP), lower thanthe government forecast of 2.19 percent. This is also the lowest budget deficitsince 2012.
However, Indonesia alsoadmitted that last year’s economic growth failed to achieve the target set inthe mid-term national development plan and the goal of 5.4 percent in the 2018State budget plan.-VNA
VNA
