Indonesia Growth Up In 2016 But Q4 Figures Disappoint
Fakhir Rizvi Published February 06, 2017 | 01:50 PM
JAKARTA, Feb 6, (UrduPoint / Pakistan Point News - 06th Feb, 2017 ) - Indonesia's efforts to reboot its economy were dealt a blow Monday as official data showed growth ticking up in 2016 but undershooting expectations for the final quarter.
President Joko Widodo came to power in 2014 on a pledge to boost economic expansion to seven percent but his government has struggled to lift growth rates in Southeast Asia's largest economy, which is rich in resources but has suffered from a slump in commodity prices.
After several years of subdued economic output, government figures showed a glimmer of acceleration for 2016, with growth of 5.
02 percent, compared to 4.88 percent a year earlier -- the smallest expansion since 2009.
But a weaker-than-expected quarterly performance of 4.94 percent in the period October to December overshadowed the annual data. The growth in the fourth quarter was dragged down by a dip in government spending.
The statistics agency said that the top contributors for growth last year were manufacturing and agriculture. Authorities unleashed a series of economic stimulus last year to reinvigorate growth, while the central bank cut the key interest rate six times. Now analysts say there is little room for manoeuvre.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
9 hours ago -
US stocks rebound on tech earnings, London hits new record
9 hours ago -
US approves gene therapy treatment for hemophilia
9 hours ago -
KATI president for inclusion of agri sector in tax net
9 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
10 hours ago -
Police to take every step for security of business community: IGP
10 hours ago
-
WB director, Planning minister discuss reforms in development projects
10 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
12 hours ago -
FBR’s data protection efforts commended by OECD assessment team
12 hours ago -
US stocks rebound on tech earnings, London hits new record
13 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
13 hours ago -
SBP to announce monetary policy on April 29
13 hours ago