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
Hajj season begins: Karachi Airport Set for Inaugural Flight
IHC orders Jail officials to shift Bushra Bibi to Adiala Jail from Bani Gala
Projects of worth $25b being implemented in Pakistan under CPEC framework: Ahsan
Saudi investors evince special interest in diverse fields
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 8 May 2024
Today Gold Rate in Pakistan 08 May 2024
Delegation of international investors meets Finance Minister
Federal Govt stands with Balochistan for its development: Naqvi
UAE President receives condolences of Prime Minister of Pakistan over passing of ..
ECC approves to enhance wheat procurement targets
UN urges Israel to 'stop escalation' as tanks enter Gaza's Rafah city
EU stumps up $125 mn for Yemen after aid groups' plea
More Stories From Business
-
Turkish stock exchange opens midweek up
12 minutes ago -
Projects of worth $25b being implemented in Pakistan under CPEC framework: Ahsan
23 minutes ago -
Chinese yuan weakens to 7.1016 against USD Wednesday
52 minutes ago -
Exchange rates for currency notes
2 hours ago -
Foreign exchange rates
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 8 May 2024
3 hours ago
-
Today Gold Rate in Pakistan 08 May 2024
4 hours ago -
Delegation of international investors meets Finance Minister
13 hours ago -
ECC approves to enhance wheat procurement targets
13 hours ago -
UBS back in profit after Credit Suisse takeover losses
13 hours ago -
Minister for Planning, Development and Special Initiatives Ahsan Iqbal leaves for China
15 hours ago -
Stock markets mostly rise on lower rates optimism
15 hours ago