Gundy Cahyadi, Economist of Development Bank of Singapore (DBS) said on Friday (Apr 29, 2016) that Indonesia’s economy is likely to grow 5,2 % this year.
According to Gundy, the growth outlook for Indonesia’s economy can be mostly attributed to domestic factors such as investment and consumption. Especially the consumption sector - a main pillar of Indonesia’s economy - is relatively stable. DBS’s predictions are also based on the expectation of a more effective government spending this year.
For the first quarter of 2016, Indonesia’s economy saw a growth of 5,1%. The country’s overall economic growth in 2015 only reached 4,8%.