IMF: Indonesia economy to grow 5.1 percent in 2017
The International Monetary Fund (IMF) has forecasted Indonesia’s economic growth will reach 5.1 percent in 2017, mostly driven by domestic expenditure and private investment.
Bank Indonesia’s headquarter in Jakarta. (Photo source: Flickr/globalindonesianvoices.com)
Jakarta (VNA) – The International Monetary Fund (IMF) has forecastedIndonesia’s economic growth will reach 5.1 percent in 2017, mostly driven bydomestic expenditure and private investment.
Thecountry’s growth rate in 2016 is projected at 5 percent due to strong personalconsumption.
Accordingto the Washington-based organisation, economic growth will result in a recoveryof commodity price and lower lending rates.
Indonesia’sinflation is predicted at 3.3 percent in 2016 and increase to 3 – 5 percent in2017 due to its policy on adjusting electricity subsidies, said the IMF.
Thecurrent account deficit of the Southeast Asian country is forecasted to risefrom 2 percent of gross domestic products (GDP) in 2016 to 2.3 percent of GDPnext year due to a pickup in fixed investment and imports.
TheIMF appreciated economic conditions in Indonesia, particularly in the lastmonths of 2016, fueled by appropriate and prudent policies on macro economy andeconomic restructuring.-VNA
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The Asian Development Bank (ADB) has lowered its predicted 2015 economic growth for Indonesia to 4.9 percent, lower than its prior 5.5 percent forecast due to domestic and global economic pressure.
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Bank Indonesia’s headquarter in Jakarta. (Photo source: Flickr/globalindonesianvoices.com) 
