Indonesia Q2 Growth Steady

Indonesia’s economy grew at a steady pace in the second quarter, the Central Statistical Agency said Monday. RTTNews reported. Gross domestic product climbed 5.01% year-on-year in the second quarter, the same rate as seen in the first quarter. On a quarterly basis, GDP advanced 4%, data showed. Gareth Leather, Capital Economics’ economist expects the growth to remain steady at 5% in both 2017 and 2018. The economist said the economy is unlikely to get much help from monetary policy. Having been cut six times in 2016, interest rates have been left on hold since October and are unlikely to be reduced any further, at least in the near term, Leather added. While the government has revised its 2017 growth forecast up a notch to 5.2%, Southeast Asia’s biggest economy is still falling short of the 7% President Joko Widodo targeted when he came into office almost three years ago.