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Indonesia to see higher growths in coming years: world bank

Xinhua, October 5, 2016 Adjust font size:

A senior economist at the World Bank (WB) said on Wednesday that Indonesia's growth may expand up to 5.3 and 5.5 percent in 2017 and 2018 respectively.

The expected growth levels require several conditions comprised of increasing public investment, success results of effort to boost investment climate, higher state revenues and growing loans channeled to private sector, WB Chief Economist Sudhir Shetty said.

"Therefore, Indonesia needs to strengthen regulation on macro-prudential and its risk management as well," he said in a teleconference event with journalists here.

Indonesia's economy grew 4.8 percent last year, the lowest level in the last six years. Southeast Asia's largest economy has set 5.2 percent growth target for this year.

Indonesian government is now carrying out major task to build up infrastructure across the nation, aimed at creating more jobs. President Joko Widodo expected to see a 7 percent economic growth at the end of his 5-year service tenure in 2019. Endit