Indonesian Finance Minister Bambang Brodjonegoro said the coutry’s GDP growth in the second quarter will rise, despite first quarter growth falling short of expectations with only a 4.92 percent incre
Indonesian GDP growth chart (Source: tradingeconomics.com)
Jakarta (VNA) – Indonesian Finance Minister Bambang Brodjonegoro said the coutry’s GDP growꦉth in the second quarter will rise, despite first quarter growth falling short of expectations with only a 4.92 percent increase.
He noted that the Q1 figure is higher than the same period last year, with most growth indices improving year-on-year, which is the foundation for the economy to accelerate in the next quarter.
The minister attributed the slow growth in Q1 to a 5 percent decrease in household expenditure and lower purchasing power.
According to the Indonesian Department of Statistics, the negative trend was seen in all sectors, except for logistics, communication, restaurants and hotels.
The country also witnessed a drop in exports and imports in the first quarter, down 3.9 percent and 4.24 percent, respectively.-VNA
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Indonesian GDP growth chart (Source: tradingeconomics.com)
