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Indonesian central bank sees 2016 growth at 5.2-5.6 pct

Xinhua, November 6, 2015 Adjust font size:

The Indonesian central bank estimated on Friday that the country's economic growth would accelerate to 5.2 to 5.6 percent next year.

For the final quarter this year, the bank expected the economy to grow at 4.7 to 5.1 percent, according to governor of the bank, Agus Martowardojo.

Government spending and investment will help boost growth in the country, the governor said here at the bank's headquarters.

The Indonesian gross domestic product (GDP) increased by 4.71 percent in the first quarter of the year and 4.67 percent in the second quarter, the slowest in six years, before growth picked up during the third quarter to 4.73 percent as spending of the government development budget accelerated, according to the country's national statistic bureau.

President Joko Widodo, who took office on Oct. 20 last year, targets a growth rate of 7 percent at the end of his five-year term through constructing massive infrastructure projects.

The president has unveiled a host of economic stimulus packages since September, a move aimed at luring more investors. Endit