AFP, Jakarta :
Indonesia’s growth rate was slower than forecast in the first quarter of 2016, official data showed Wednesday, in a blow to President Joko Widodo’s efforts to boost Southeast Asia’s top economy.
The G20 economy grew 4.92 percent year-on-year from January to March, the official statistics agency said. This was slightly below economists’ forecasts and compared to 5.04 percent in the final quarter of 2015.
The lower-than-expected figure was in part driven by easing investment growth after a “surge” in public spending at the end of 2015, said Gundy Cahyadi, an economist from Singapore’s DBS Bank. “Public investment needs to be sustained to keep up the growth momentum in the economy,” he said.
Widodo took power in 2014 pledging to kick-start the economy after a slowdown caused by falling prices for the resource-rich country’s key commodities exports, and slowing exports to key markets such as China.
Indonesia’s growth rate was slower than forecast in the first quarter of 2016, official data showed Wednesday, in a blow to President Joko Widodo’s efforts to boost Southeast Asia’s top economy.
The G20 economy grew 4.92 percent year-on-year from January to March, the official statistics agency said. This was slightly below economists’ forecasts and compared to 5.04 percent in the final quarter of 2015.
The lower-than-expected figure was in part driven by easing investment growth after a “surge” in public spending at the end of 2015, said Gundy Cahyadi, an economist from Singapore’s DBS Bank. “Public investment needs to be sustained to keep up the growth momentum in the economy,” he said.
Widodo took power in 2014 pledging to kick-start the economy after a slowdown caused by falling prices for the resource-rich country’s key commodities exports, and slowing exports to key markets such as China.
