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Indonesian GDP growth expected at 5.1 pct in Q1

Xinhua, May 3, 2017 Adjust font size:

Indonesia's Coordinating Minister for Economic Affairs Darmin Nasution on Wednesday forecast the country's economy to expand 5.1 percent in the first quarter of this year, faster than 4.92 percent for the same period last year.

The growth was contributed by consumption, exports and investment, Nasution said.

Rising global oil prices have spurred prices of other commodities, including palm oil, rubber and coal, which are among the major exported products from Indonesia.

"Our expectation is 5.1 percent growth in Q1," he said.

On inflation, Nasution played down the impact of higher demand ahead of the Islamic fasting month of Ramadan which falls at the end of this month.

For the whole year, Nasution was upbeat about the inflation target of a little bit more than 4 percent. Endit