Illustrative image (Source: The Business Times)Jakarta (VNA) – The central bank of Indonesia haspredicted the country’s economic growth in the first quarter at 5 percent – thelower limit of the targeted range of 5-5.4 percent for all of 2017, accordingto Antara News.
Bank Indonesia (BI) Governor Agus Martowardojosaid the first-quarter national economy will still be much affected by loosecontribution of the government’s spending in Q4 of 2016 due to budgetcut.
The government slashed budget spending in 2016to keep budget deficit under control. However, only budget spending on lessproductive activities were slashed.
BI had originally predicted the economy wouldgrow 5.05 percent year-on-year in Q1 of 2017. But in late February, therealised fiscal spending did not push economic activities as a whole, thecentral bank had revised down its economic growth forecast from the targeted5.05 percent in the first half of this year.
However, the central bank still maintains itseconomic growth forecast for all of this year at the targeted range of 5-5.4percent.
The government has set this year’s economicgrowth target at 5.1 percent.-VNA
Bank Indonesia (BI) Governor Agus Martowardojosaid the first-quarter national economy will still be much affected by loosecontribution of the government’s spending in Q4 of 2016 due to budgetcut.
The government slashed budget spending in 2016to keep budget deficit under control. However, only budget spending on lessproductive activities were slashed.
BI had originally predicted the economy wouldgrow 5.05 percent year-on-year in Q1 of 2017. But in late February, therealised fiscal spending did not push economic activities as a whole, thecentral bank had revised down its economic growth forecast from the targeted5.05 percent in the first half of this year.
However, the central bank still maintains itseconomic growth forecast for all of this year at the targeted range of 5-5.4percent.
The government has set this year’s economicgrowth target at 5.1 percent.-VNA
VNA
