Jakarta, Nov 6 (Antara)- Indonesia's economy is expected to perform better in the fourth quarter of this year in the wake of the higher expenditure made by the government, the impact of economic policy packages and investment development projects.
The improvement in the economic performance is reflected in the upward trend in growth, recorded at 4.73 percent in the third quarter of this year. In the second quarter, the economic growth had fallen to 4.67 percent from 4.72 percent in the first quarter.
Therefore, there is optimism that the economic growth in the fourth quarter will be better.
Finance Minister Bambang Brodjonegoro has forecast that Indonesia's economic growth in the fourth quarter would reach 4.8 percent. Bank Indonesia (BI, or the central bank) has also made a similar predication.
BI has predicted that the economy will grow by 4.85 percent in the fourth quarter.
The Central Bureau of Statistics (BPS) expects that Indonesia's economic growth in the fourth quarter of this year will be better than in the third quarter when it was recorded at 4.73 percent.
"We hope that the economic growth in the fourth quarter will be higher because the capital expenditure in the third quarter was beyond expectation," BPS Deputy for balance and statistical analysis, Suhariyanto, said on Thursday.
He was reluctant to make a prediction about the expected growth rate in the fourth quarter but, however, said it would grow at a higher rate as construction sector growth would be supported by capital expenditure absorption in the run-up to the year-end.
Besides, the government's economic policy packages announced in September and October 2015 will already have started impacting the economy because these packages were aimed at helping the industry survive and increasing the purchasing power of the people.
"As of now, we have not felt the impact of the policy packages, but I think it will be felt in the fourth quarter. Food and beverage industries are also expected to grow and have an impact on household consumption," he said.
The BPS recorded Indonesia's economic growth in the third quarter of 2015 at 4.73 percent year-on-year, much better than the growth in the first quarter at 4.72 and the second quarter at 4.67 percent.
Thus, the accumulated growth up to the third quarter has been recorded at 4.71 percent or better than the accumulated growth rate in the first semester of 2015 at 4.69 percent.
The government has set a growth target for this year at a range of 5.5 percent ¿ 6.0 percent.
However, Finance Minister Bambang Brodjonegoro forecast that Indonesia's economic growth at the end of the year would only reach 4.8 percent, after reviewing the growth till the third quarter of this year.
"It is hard and could only reach a maximum growth of 4.8 percent," the Finance Minister said in Jakarta on Friday.
Bambang said that year-end economic growth prediction could be achieved if the growth in the fourth quarter 2015 can reach or almost reach 5.0 percent. "It should be close to 5.0 percent in the fourth quarter," he noted.
The Central Bureau of Statistics (BPS) had previously recorded Indonesia's economic growth in the third quarter at 4.73 percent (year-on-year), or higher than in the second quarter when it stood at 4.67 percent.
"This growth is better than in the first quarter when the economy grew at 4.72 percent or the second quarter when it grew at 4.67 percent," Suhariyanto, deputy for balance and statistics analysis of the BPS, said.
Thus, the accumulative growth till the third quarter of 2015 reached 4.71 percent or better than the accumulative growth in the first semester, which stood at 4.69 percent.
Bank Indonesia believes that the national economy will grow at a higher rate in the fourth quarter than in the previous quarters, thanks to the rising investment made by the government.
"We hope that during the fourth quarter, investment in development projects as also the private investment will increase, thereby contributing to the national economy," BI Governor Agus Martowardojo said at a press conference on Wednesday.
He said the economic growth has begun showing a positive trend. The central bank has predicted the economic growth will be higher in the fourth quarter than in the previous two quarters.
BI predicted that the economic growth will reach 4.85 percent in the fourth quarter.
"As I have observed, government investment and spending had begun improving in the third quarter. I hope the private sector will play a role during the fourth quarter as a great deal of government spending has not been realized as yet. Of course, the private sector must prepare for it," he said.
He further expressed the hope that an improvement in the economy in the second semester of this year will add to the country's momentum and result in positive growth in the future.
Communication Department Deputy Director of BI, Andiwiana said the increase in the economic growth in the third quarter is in line with various indicators monitored by BI over the past several months.
"These conditions indicate a strong momentum for economic growth," Andiwiana said adding that the increase in the economic growth in the third quarter of 2015 is mainly fueled by strong government consumption and investment. It is also fueled by household consumption and the progress of the government infrastructure projects.***3***(a014/INE)EDITED
(T.A014/A/BESSR/A. Abdussalam) 06-11-2015 22:36: |
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