TEMPO.CO, Jakarta - Head of lntermediary Business Schroders Investment Management Indonesia Teddy Oetomo predicted that Indonesian economy in 2018 will be better than in 2017. This is resulted from the campaign period.
"Next year, the number of elections will expand compared to that in 2017. In 2018, money circulating in the campaign will be stronger and higher in amount," Teddy Oetomo said at the Indonesia Stock Exchange (IDX) in Jakarta on Friday, Oct. 13.
Teddy explained that 2018 election is important because it includes Regional Elections in densely populated regions of Central Java, East Java, and West Java which make up 40% of Indonesian population.
"Campaign fund of the three regions cover around 30 percent of Indonesia's economy," Teddy Oetomoadded.
Based on the data presented by Teddy, it is indicated that Indonesian economy declined before election. This is evident from the data of 2004, 2009, and 2014's gross domestic product, private consumption, government consumption, and exports.