WB forecasts 5.3 percent growth for Indonesia in 2017
The World Bank (WB) forecast Indonesia’s economy will grow at 5.3 percent in 2017, the Antara news agency reported, citing the bank’s economic report on Indonesia released on January 18,
Surabaya city, Indonesia. (Source: digitalnewsasia.com)
Jakarta (VNA) – The World Bank (WB) forecast Indonesia’s economy will grow at 5.3percent in 2017, the Antara news agency reported, citing the bank’s economicreport on Indonesia released on January 18,
WB CountryDirector to Indonesia Rodrigo Chaves said Indonesia’s budget has shownimprovement in government spending and capital allocation has been directed todevelopment in infrastructure, health and social welfare.
Chaves believed thatthe government’s budget has been allocated to better carry out energy andsocial subsidy goals for the poor and stressed Indonesia needs to maintainreform motivation to achieve the effective development goal.
The report saidIndonesia will achieve a higher growth in 2017 due to the increase of privateinvestment thanks to monetary policy in 2016 and the success in creating abetter investment environment.
Individualspending is also predicted to increase in 2017 due to low inflation and thestability of the domestic currency. However, the report said Indonesia shouldaccelerate reforms of administrative procedures and tax policy to increase taxcollection.-VNA
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Surabaya city, Indonesia. (Source: digitalnewsasia.com)
