Off the wire
• China, India hold strategic dialogue in Beijing  • S.Korean parliament fails to table bill to extend probe into presidential scandal  • 1st LD-Writethru: Chinese shares fall on profit-taking  • Spotlight: Japan PM grilled over school's cheap land scandal  • Foreign exchange rates in Hong Kong  • Gold price closes higher in Hong Kong  • Hong Kong stocks close 0.36 percent lower  • China releases revised regulation on improving education for disabled  • China to step up property tax legislation: official  • China's central SOEs cut 2,730 subsidiary legal entities  
You are here: 　 Home

Indonesian central bank revises down Q1 growth projecton

Xinhua, February 23, 2017 Adjust font size:

The Indonesian central bank, Bank Indonesia (BI), on Thursday revised down the country's first quarter growth estimation initially set at 5.05 percent.

"Growth in the first quarter this year would be lower than 5.05 percent, to be much affected by insufficient government spending. As we already knew, the spending was consolidated late last year," BI Governor Agus Martowardojo said here Thursday.

He said exports would likely become the major driver in the first quarter's growth due to price recovery in commodities.

After being battered by decreasing prices throughout last year, Indonesian export commodities would get momentum this year with prices on eight commodities predicted to grow 10.2 percent on average this year, he said.

Indonesia posted 5.02 percent growth last year, lower than the revised target of 5.1 percent.

The BI governor expected the growth throughout this year may reach 5.4 percent, higher than the 5.3 percent target set by government. Endit