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Indonesia GDP Expands 4.73% in 3Q; Economic Package VI Targets Special Economic Zone

By administrator | November 6, 2015 | Economy.

Indonesia statistic bureau announced Indonesia GDP expands 4.73% yoy in 3Q, higher than 4.67% in the previous quarter but less than than consensus expectation for 4.8% growth. The economic growth in 3Q is driven by government spending that grew 6.56%yoy while household consumption which accounts for more than half of the economy expanded 4.96% in 3Q.  The economy is however might miss this year’s target of 5.7% as stated in the revised state budget 2015. Darmin Nasution, the coordinating economic minister acknowledged that it would be hard to achieve 5% growth this year given persistent weak global growth and prolonged weak commodities prices leading a declining export growth.

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