ADB Revises Down RI's Economic Growth Forecast to 5%

Suci Sedya Utami    •    27 September 2016 15:56 WIB
economic growth
ADB Revises Down RI's Economic Growth Forecast to 5%
Illustration (Photo: MI/Galih Pradipta)

Metrotvnews.com, Jakarta: The Asian Development Bank (ADB) released an update for its flagship economic publication Asian Development Outlook 2016 on Tuesday (9/27). 

ADB revised down its 2016 economic growth forecast for Indonesia from 5.1 percent to five percent. It also lowered its 2017 estimate from 5.5 percent to 5.1 percent.

"Indonesia’s economy is still poised to grow at a healthy pace this year," ADB Deputy Country Director for Indonesia Sona Shrestra said in a written statement.

Sona explained Indonesia created less jobs from February 2015 to February 2016 compared to the same period last year.

"While rural areas were able to absorb more labor due to a delayed harvest, the urban labor market shows signs of wage stagnation for educated workers," he continued.



(WAH)