Govt Believes Economic Growth Could Reach 5.3% Next Year
Husen Miftahudin • 10 September 2018 18:01 WIBindonesian economy (en)
According the minister, external factors will heavily influence Indonesian economy next year. In addition, the global financial markets will also affect the movement of the rupiah against the US dollar.
"The US will normalize its monetary policy. The implications will affect the whole world," said the former World Bank managing director at the Parliament Complex on Monday.
"The US dollar is still the strongest currency in the world. The US dollar index is the most important currency basket in the world," the referred economist told lawmakers in a hearing.
The Central Statistic Agency (BPS) earlier announced a gross dometic product (GDP) growth of 5.27 percent in the second quarter of 2018. The agency also recorded a cumulative growth of 5.17 percent in the first semester of 2018.
In terms of expenditure, the highest growth was achieved by Consumption Expenditures of Non-Profit Institutions Serving Household (PK-LNPRT) at 8.71 percent. In terms of production, the highest growth was achieved by Other Services field at 9.22 percent.
Spatially, provinces in Java island is the biggest contributors of the country's GDP which was 58.61 percent. In the meantime, provinces in Sumatra island is the second largest contributors which was 21.54 percent.