Indonesia’s economy will continue to grow in 2017 and 2018
Indonesia economy growth | Underpinned by improvements in private investmetns and exports as well as higher public infrastructure spending, says a new report by the Asian Development Bank (ADB).
ADB’s flagship annual economic publication, the Asian Development Outlook (ADO) 2017, projects Indonesia’s gross domestic product’s growth to reach 5.1% this year, and 5.3% in 2018. In 2016, the country’s economy grew by 5.0%.
Investment and Trade to Keep Indonesia Economy Growth on Track:
“On the back of reviving investment and external trade, Indonesia is set to gain further momentum for growth,” said Winfried Wicklein, ADB’s Country Director for Indonesia. “A sustained growth path will require continued efforts to improve infrastructure, deepen structural reform, and address skill gaps.”
Public infrastructure spending is expected to increase in 2017, in line with government budget allocations. Private investment is also expected to increase, as a result of rising income from commodity exports and the impact of recent structural reforms designed to clear regulatory bottlenecks and open up new sectors to foreign investors.