TEMPO.CO, Jakarta - The government is not overly upbeat on the country's economic growth in the year's first quarter. Coordinating Economic Minister Darmin Nasution estimated Indonesia's economic growth in the first quarter would be slower than last year's.
Darmin said the harvest season in 2017 peaked in March and April, while this year's was predicted to move slightly ahead of time. He added this meant the economic growth would take place after April, which would be in the second quarter of 2018.
“For the last two weeks, the government will take steps to improve prices again so that prices will go back to normal once the Ramadan month arrives,” said Darmin on Monday, March 19.
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However, he confirmed that agriculture’s contribution towards the country’s GDP would be similar to the previous year of less than five percent or around 3.5 percent. Another indicator such as credit growth has also yet to show its potential.
As for the retail standpoint related to society’s consumption, Darmin is unable to detect its true condition. “I prefer not to go into further details, but the economic growth this year will not exceed last year’s growth,” he said.