Indonesian Economy May Only Grow 5.16% in 2018: Core

Eko Nordiansyah    •    31 Desember 2018 12:23 WIB
economic growth (en)
Indonesian Economy May Only Grow 5.16% in 2018: Core
Illustration (Photo:MI/Atet)

Jakarta: Center of Reform on Economic (Core) research director Piter Abdullah has predicted that Indonesian economy will only grew 5.16 percent in 2018.

"The economic growth will only reach 5.16 percent. It will not reach 5.2 percent," the economist told reporters on Monday, December 31, 2018.

According to the Central Statistics Agency (BPS), Indonesian economy grew by 5.17 percent year-on-year in the third quarter of 2018. Cumulatively, the economy also grew by 5.17 percent in the first three quarters of 2018. 

"The annual inflation will stand at 3.2 percent. It will stay below 3.5 percent," he said.

According to Bank Indonesia, consumer prices will increase by 0.56 percent this month. In the meantime, the annual consumer price index will stand at 3.07 percent.

The central government recently revealed that rice prices slighly rose in the past few weeks. President Joko "Jokowi" Widodo has instructed related agencies to hold market operations.