Indonesia Economy to Grow 5%

Bank Indonesia sees Indonesia’s economic growth in the third quarter as unlikely to be as strong as previously expected and only reach 5% year-on-year, Bernama reported. With these developments,  overall economic growth for 2016 is estimated to stand at the lower range of between 4.9% and 5.3% yoy. BI economic and monetary policy executive director Juda Agung said at a press conference in Jakarta on Thursday that the existing indicators, including consumption, investment, government spending and export growth, were lower than the central bank had anticipated.