Indonesia expects economic growth to exceed ADB forecast

11:22 | 02/10/2017 Global Economy

Indonesian Minister of National Development Planning Bambang Brodjonegoro has believed that the country’s economic growth rate will reach 5.4 percent in 2017, higher than the Asian Development Bank (ADB)’s forecast of 5.1 percent.

Indonesia expects its economic growth to exceed ADB forecast - Source: jakartaglobe.com

More economic activities will be carried out in the second half than in the first half, he said on September 26, adding that there is still hope to achieve an economic growth rate of above 5.1 percent.

In its economic publication of the Asian Development Outlook (ADO) 2017, the ADB, based in Manila, the Philippines, has projected the Indonesian economy has the potential to grow at 5.1 percent in 2017 and 5.3 percent in 2018.

The latest publication has also forecast the government’s spending will be able to support the economic growth in the second half of 2017.

The Indonesian government has set the target of economic growth rate for 2017 at 5.17 percent, falling slightly from the assumption of 5.2 percent in the revised state budget.

Theo VNA