5.07 Percent Economic Growth Pretty Solid: Bank Indonesia

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Markus Wisnu Murti

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  • Workers construct a building in Jakarta, Monday, November 5, 2018. TEMPO/Tony Hartawan

    Workers construct a building in Jakarta, Monday, November 5, 2018. TEMPO/Tony Hartawan

    TEMPO.CO, Jakarta - Bank Indonesia (BI) deemed Indonesia’s 5.07 percent economic growth in the first quarter pretty solid.

    The head of Bank Indonesia’s Monetary Management Department, Nanang Hendarsah, said the growth must also be compared to the economic growth in other countries.

    “A growth of 5.07 percent is actually below the market’s expectations, but it must be compared to other countries, hovering above 5 percent is a solid result,” said Nanang at the Bank Indonesia headquarters in Central Jakarta on Monday. 

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    With the domestic economy showing resilience, Nanang predicted that this result would positively affect the second and third quarter figures and help stabilize Indonesia’s domestic economy.

    2019’s first-quarter economic growth inched upwards from 5.06 percent in the same period last year.

    From the production viewpoint, Central Statistics Agency (BPS) head Suhariyanto said The highest growth was made by companies in the service industry with 10.36 percent. Meanwhile, from the expense viewpoint, the highest growth came from non-profit institutions serving households (NPISH) with 16.93 percent.

    DIAS PRASONGKO | HENDARTYO HANGGI