Indonesian GDP likely to rise 5 pct in 2016, says Finance Minister Indrawati

Indonesian Finance Minister Sri Mulyani Indrawati in its latest speech said that the country’s GDP is expected to grow 5 pct in 2016 while increasing 4.7 percent y/y in the last quarter of 2016.

This will be supported by the rise investments, household consumption and private investments. Individually, investment is expected to increase to 4.7 percent in 2016, she added.

Moreover, Finance Minister has also asked the World Bank to give Indonesia advice on a more effective allocation of its national budget to reduce the country’s poverty rate, reported Antara news.

"The government has allocated funds in the national budget for the country's overall spending, and I want this to be effective," the minister said while launching the World Banks Indonesia Economic Quarterly at the Centre for Strategic and International Studies (CSIS) auditorium on Tuesday, reported Antara news