World Bank forecasts Indonesia's economy to grow 5.2 pct this year

By：Xinhua Update：2017-06-16

The World Bank estimated that the Indonesian economy will expand 5.2 percent this year as government spending and exports pick up, a senior official of the lender said here on Thursday.

World Bank Country Director for Indonesia Rodrigo A. Chaves said improved economic fundamentals amid supportive global environment factored to the acceleration of the GDP growth in Indonesia.

For the next year, he said the bank projected that the Southeast Asia's biggest economy is to expand 5.3 percent.

"Fundamental of the Indonesian economy has improved so that the projection continues to be positive," Chaves said.

Private consumption was estimated to rise with moderate inflation level and stable rupiah, he added.

The Washington-based bank projected that investment will rise in Indonesia amid recovery of commodities prices with the support of recent credit rating upgrading by S&P.