Indonesia's Economy Seen Growing a Touch Stronger in Q2

Jakarta Globe | August 8, 2017- Indonesia's annual economic growth pace accelerated slightly in the second quarter from January-March, a Reuters poll showed, highlighting the country's struggle to get the rate well above 5 percent.

The median forecast of 19 analysts was for Southeast Asia's largest economy to have annual growth of 5.10 percent in April-June.

That rate is a touch stronger than the 5.01 percent rate reported for the first quarter.

Analysts' forecasts are in line with that of the central bank. Bank Indonesia last month said the economy likely grew faster in the second quarter than it did in January-March, but not more than 5.1 percent, as private consumption was weaker than anticipated.

Indonesia's annual economic growth has hovered around 5 percent in every quarter since he start of 2014, and many analysts say that pace is not enough to escape the so-called middle income trap.

President Joko "Jokowi" Widodo has promised to accelerate growth to 7 percent during his five-year term, which will end in 2019.

In the poll, 10 analysts gave forecasts for full-year 2017 growth, and the median of those was 5.15 percent. The government's growth target for this year is 5.2 percent, up from 2016's level of 5.02 percent.

Source: http://iccia.com/?q=mediacenter/news/19564/details