BI Predicts 5.1% Economic Growth in the Second Quarter

Economics & Macro

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20/06/2017 12:48 WIB

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Quarterly Economic Growth (YoY) 2015-2017

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BI Predicts 5.1% Economic Growth in the Second Quarter

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Quarterly Economic Growth (YoY) 2015-2017

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Bank Indonesia (BI) predicts that the domestic economy will only grow by 5.1 percent in the second quarter of 2017. This figure is lower than the previous prediction of 5.2 percent. BI Deputy Governor, Perry Warjiyo, stated that household consumption is still expected to remain stable at around five percent and may even increase with the arrival of Ramadan and Idul Fitri. However, export growth is projected to be lower than in the first quarter.

The sluggish domestic economy resulted in economic growth of only 4.73 percent in the second quarter of 2015, while in the second quarter of 2016 it managed to grow by 5.18 percent. If it achieves 5.1 percent growth in the second quarter of 2017, then growth in the third and fourth quarters of 2017 is expected to be above 5.2 percent. Therefore, BI predicts that the economy will grow by 5.2 percent throughout 2017.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."