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

Huawei earns MOCN Partners Award from Indosat

Rabu, 31 Mei 2023 - 16:30 WIB

Huawei Recognized as Outstanding Partner from Indosat in MOCN Partner Awards for Successful Network Integration

Indosat Ooredoo Hutchison (Indosat), has achieved a significant milestone in its mission to connect and empower the people of Indonesia, after completed the merger in January 2022.

65 years APO Tokyo

Rabu, 31 Mei 2023 - 15:28 WIB

65th Session of the APO Governing Body in Mongolia: Assessing Progress, Celebrating Milestones, Shaping the Future

The Asian Productivity Organization (APO) successfully concluded the 65th Session of its Governing Body (GBM) with representatives of 19 APO member economies attending in Ulaanbaatar, Mongolia,…

World Fishing Championship, the First Fishing Game on WEMIX PLAY, Launches in 170 Countries (Graphic: Wemade)

Rabu, 31 Mei 2023 - 15:00 WIB

World Fishing Championship, the First Fishing Game on WEMIX PLAY, Launches in 170 Countries

Wemade officially launched World Fishing Championship, a fishing game developed by Wemade Plus, on May 25th in 170 countries.

President Jokowi launched the IKN logo, Tuesday (30/05/2023), at the State Palace, Jakarta. (Photo: Public Relations of Setkab/Agung)

Rabu, 31 Mei 2023 - 14:35 WIB

President Jokowi Launches IKN Logo Themed Tree of Life

Indonesian President Joko Widodo (Jokowi) officially launched the Indonesian Capital City logo (IKN), Tuesday (30/05/2023), at the State Palace, Jakarta.

Falcon 40B," the UAE's first large-scale AI model, is now open source for research and commercial use. (Photo: AETOSWire)

Rabu, 31 Mei 2023 - 14:05 WIB

UAE's Technology Innovation Institute Launches Open-Source "Falcon 40B"

The Technology Innovation Institute (TII), a leading global scientific research center and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today strengthened…