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Indonesia’s economy posts slow growth in Q1

The Indonesian economy expanded 4.71 percent in the first three months of this year, slowing slightly from 4.89 percent during the fourth quarter of last year, according to the Indonesian statistics agency.
The Indonesian economy expanded 4.71 percent in the first three monthsof this year, slowing slightly from 4.89 percent during the fourthquarter of last year, according to the Indonesian statistics agency.

Indonesia’sgrowth was hurt by a slowing demand for exports triggered by changes inthe country’s export markets and falling oil prices, said Head of theIndonesian Central Statistics Agency (BPS) Suryamin.

He addedthat Java island made the greatest contributions to the national GDP(58.3 percent), followed by Sumatra island (22.56 percent) and Borneoisland (8.26 percent).

In March, Bank Indonesia (BI) forecastedthe country’s growth would pick up over the next few months as spurredby strong individual consumption.

Indonesia’seconomy growth is expected to reach 5.4-5.8 percent in 2015 thanks toimprovements in infrastructure projects and the investment climate.-VNA
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