KONTAN.CO.ID - JAKARTA. Bank Indonesia (BI) has estimated that Indonesia's economic growth in 2017, to be released by the Central Bureau of Statistics on Monday, will be 5.1 percent, higher than the 5.02 percent of 2016.
BI Governor Agus Martowardojo said here on Friday that the year-on-year (YOY) growth of 5.1 percent in 2017 indicated that after a slow phase, the country's economic recovery has continued.
"This three-year growth trend is a recovery," he noted.
Agus further remarked that the economic growth in 2017 was accompanied by improving economic fundamentals. This could be seen from the inflation rate being maintained at 3.61 per cent (YOY), a surplus in the balance of payments that continued up to US$11 billion, and the stability of the rupiah exchange rate.
"We also see the current account deficit in 2017 at $17 billion, or under two per cent of the Gross Domestic Product (GDP)," Agus said.
If the central bank's projection is correct, economic growth will climb again in 2017 after growing to 5.02 per cent in 2014, then dropping to 4.79 per cent in 2015, and rising to 5.02 per cent in 2016.
Before 2013, Indonesia's economic growth was at the level of six per cent.
In addition, Chief Economist of PT Bank Mandiri Anton Gunawan stated the realization of economic growth in the range of five per cent was still far from sufficient to achieve the government's target of eight per cent in 2019 and the quantitative per capita GDP target of Rp71.97 million.
Indonesia, Anton noted, still needs to optimize its productive sectors, such as manufacturing industries, whose contribution shrank the GDP in the third quarter of 2017.
Editor: Yudho Winarto