World

Indonesia’s economy grows 5.02 percent in 2016

Indonesia’s economic growth was 5.02 percent in 2016, below the government’s expectations, local news agency Antara quoted Indonesian Coordinating Minister for Economic Affairs Darmin Nasution as saying on February 7.
Indonesia’s economy grows 5.02 percent in 2016 ảnh 1Indonesian Coordinating Minister for Economic Affairs Darmin Nasution (Source: Antaranews)
Jakarta (VNA) –Indonesia’s economic growth was 5.02 percent in 2016, below the government’sexpectations, local news agency Antara quoted Indonesian Coordinating Ministerfor Economic Affairs Darmin Nasution as saying on February 7.

As economic growth fell short ofexpectations, it is necessary to cut budget spending, stated Nasution.

Earlier, the Central StatisticsAgency of Indonesia reported that the Indonesian economy expanded 4.94 percentin the fourth quarter of 2016, bringing national growth to 5.02 percent for thewhole year, a rise of 0.14 percent over 2015.

The World Bank predicted thatIndonesia’s GDP would grow 5.3 percent in 2017, higher than previous years dueto an increase in private investment thanks to monetary policies in 2016 and animproved investment environment.

The bank also forecast thatprivate spending in Indonesia will increase this year due to low inflation andthe stable price of domestic currency.

Nasution stressed that theIndonesian government has much to do to tackle inflation in 2017.-VNA
VNA
#Indonesia#Darmin Nasution#Antara#economic growth
Follow VietnamPlus

Related News

Malaysia, Indonesia, Philippines cooperate to tackle IS

Malaysia, Indonesia, Philippines cooperate to tackle IS

Malaysia, Indonesia and the Philippines have agreed to establish a trilateral cooperation to fight activities and ideas of the self-claimed Islamic State (IS) in the region, said Malaysian Deputy Prime Minister Zahid Hamidi on January 26.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.