Economic Growth of 2017 of 5.1 Percent

By : Herry Barus And Aldo Bella Putra | Saturday, February 03 2018 - 20:00 IWST

Gubernur BI Agus Martowardojo (Foto Rizki Meirino)
Gubernur BI Agus Martowardojo (Foto Rizki Meirino)

INDUSTRY.co.id - Jakarta - Bank Indonesia estimates that the 2017 economic growth released by Central Bureau of Statistics on 5 February 2018 will be 5.1 percent (year-on-year / yoy), or higher than 2016 of 5.02 percent (yoy).

Bank Indonesia Governor Agus Martowardojo said here Friday (2/2/2018) that growth of 5.1 percent (yoy) in 2017 indicates the economic recovery continues after the slowing phase.

"That this three-year growth trend is a recovery," he said.

Agus said that economic growth in 2017 is accompanied by increasing fundamentals of economic fundamentals. This can be seen from the maintained inflation at 3.61 percent (yoy), a surplus in the balance of payments that continues to be 11 billion US dollars and stable stability of the rupiah exchange rate.

"We also see the current account deficit 2017 at 17 billion US dollars, so the current account deficit 2017 is fewer than two percent of Gross Domestic Product (GDP) of 1.8 percent of GDP," said Agus.

If the Central Bank's projection is correct, then economic growth will climb again in 2017 after growing 5.02 percent in 2014, then down to 4.79 percent in 2015 and rise to 5.02 percent in 2016. Before 2013, Indonesia's economic growth is at the level six percent.

Separately, Chief Economist of PT. Bank Mandiri Persero Tbk Anton Gunawan said the realization of economic growth in the range of five percent is still far from enough to reach the government target of eight percent in 2019 and quantitative target per capita GDP to Rp71, 97 million.

Indonesia, said Anton, still needs to optimize productive sectors such as manufacturing industries whose contribution shrinks to Gross Domestic Product (GDP) per quarter III 2017.

News Comment

Today's Industry

SUNeVision Initiates MEGA IDC Phase Two Development

Jumat, 28 Maret 2025 - 22:21 WIB

SUNeVision Initiates MEGA IDC Phase Two Development

SUNeVision, the technology arm of Sun Hung Kai Properties (SHKP), today announced the commencement of construction for Phase Two of MEGA IDC in Tseung Kwan O. As Hong Kong's largest data centre…

 PT Metrodata Electronics Tbk (“MTDL”)

Jumat, 28 Maret 2025 - 22:07 WIB

TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary

PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…

Wireless Logic

Jumat, 28 Maret 2025 - 22:00 WIB

Wireless Logic Selected By Thales As IoT Connectivity Partner

Wireless Logic, a global leader in IoT connectivity solutions has been selected by Thales, a global leader in advanced eSIM technologies, to enable secure, scalable and resilient IoT connectivity…

Microvista Expands International Presence with Mobile CT System ScanExpress

Jumat, 28 Maret 2025 - 21:53 WIB

Microvista Expands International Presence with Mobile CT System ScanExpress

The German specialist in industrial computed tomography and non-destructive testing, Microvista, announces the European expansion of its innovative mobile CT system, ScanExpress. The system…

Pekerja Industri Tekstil

Jumat, 28 Maret 2025 - 21:44 WIB

Turning Loss into Profit, INOV Optimistic in Maintaining Positive Performance this Year

PT Inocycle Technology Group Tbk (INOV:IJ) Indonesia's leading and largest PET waste recycling Company managed to book sales of IDR 629 Billion in 2024, an increase of 4.8% compared to the previous…