The Central Statistics Agency (BPS) reports that Indonesia’s economy grows 5.01 percent (YoY) in the first quarter of 2017.

“The growth is higher compared to the Q4 of 2016 and Q1 of 2016; I hope we will continue to see higher growth,” BPS chairman Suhariyanto said today, May 5, in Jakarta.

The Coordinating Minister for Economic Affairs Darmin Nasution on April 27 said that he was confident that Indonesia’s economic growth would get near 5.1 percent (YoY) in the first quarter of 2017.

More stimuli for economic growth at the turn of the year, according to him, include better performance of crude palm oil and rubber exports. He believes that crude palm oil hike will increase income and consumption, particularly for people living in regions that produce the commodities, such as Kalimantan and Sumatra.

“What’s the figure for the quarter 1? BI [Bank Indonesia] says 4.99 percent growth, but I believe that it can get near 5.1 percent,” he said.

Darmin added that harvest window that shifted to the first quarter this year compared to quarter II last year has helped boost the gross domestic product (GDP). “Such factors, palm oil price hike and the shift in harvest window have often been omitted from the calculation,” he said.

source: tempo.co