Indonesia`s growth reaches five-year high of 5.17 percent in 2018

07 Februar, 2019 | Source: Antara News

Indonesia`s economic growth reached a five-year high of 5.17 percent in 2018, mostly fueled by household consumption, investment, and government spending, according to the Central Statistics Agency (BPS).

The 5.17 percent growth was a good achievement in view of pressure from global economic uncertainty, BPS Chief Suhariyanto stated here on Wednesday.

"In the midst of global economic pressure, including the Fed rate hike, and the start of a trade war, the Indonesian economy could grow 5.17 percent. Indeed, we are not the best, but our achievement remains good," he remarked.

Just in the fourth quarter of 2018, the national economy expanded 5.18 percent.

On a yearly basis, the Indonesian economy grew 5.01 percent in 2014 and slowed down to 4.88 percent in 2015.

The national economy recovered to 5.03 percent in 2016 and further moved to 5.07 percent in 2017.

"We must consider the arising and unpredictable pressures, including external ones. Admittedly, this year`s growth falls short of the target set in the medium-term national development plan (RPJMN)," he stated.

In the 2018 state budget, the government had set the target of economic growth for last year at 5.4 percent.

Despite growing 6.48 percent as compared to 2017, exports` contributions to the 2018 economic growth contracted 0.99 percent. The export performance was also lower than the import growth that surged to 12.04 percent.

"The negative export performance reduces the economic growth," he remarked.

Contributors to the 2018 economic growth were household consumption, at 2.74 percent; investment, 2.17 percent; and government spending, 0.38 percent. Household consumption grew 5.05 percent, investment rose 6.67 percent, and government spending increased 4.3 percent.

 

The Ombilin Coal Mining Heritage in Sawahlunto, West Sumatra, was designated as a world cultural heritage during the 43rd session of UNESCO World Heritage Committee in Baku, Azerbaijan.
Indonesia participated in two significant forums at the regional as well as international levels – the 34th ASEAN Summit from June 20 to 23, 2019, and the 2019 G20 Summit on June 28 and 29, 2019.
President-elect of Indonesia Joko Widodo (Jokowi) vowed on Thursday evening that he would become a leader for the entire nation without exception.
Ten leaders of the Association of Southeast Asian Nations (ASEAN) member states have agreed to adopt the ASEAN Outlook on the Indo-Pacific concept.
Syamsuri Firdaus, University of Indonesia′s (UI′s) student, won the first place in the Seventh International Quran Recitation and Memorization Competition held in Istanbul, Turkey, on May 19-26, 2019.
The Jakarta Fair 2019 held at the Jakarta International Expo in Kemayoran, Central Java, from May 22 to June 30 is the venue to showcase prime products from various regions in Indonesia.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu